Murrey Math Lines 31.03.2015 (EUR/USD, GBP/USD)
31.03.2015
Analysis for March 31st, 2015
EUR USD, “Euro vs US Dollar”
The market has rebounded from the 6/8 level several times and been able to stay below Super Trends, which have already formed “bearish cross”. I’m planning to increase my position when after the price stays below the 4/8 level. If the market breaks the 3/8 level, it will continue falling to reach the 1/8 level or even the 0/8 one.
The pair is moving in the middle of the H1 chart. Earlier, Super Trends formed “bearish cross”. The closest target right now is at the 1/8 level, but the pair may probably break it.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is attempting to leave its consolidation channel. After rebounding from the 4/8 level, the pair has been able to stay below Super trends and the 2/8 one. all these indicate that the market may continue falling towards the -2/8 level.
As we can see at the H1 chart, Super Trends have formed “bearish cross”. Considering that the price is already moving below the 3/8 level, it may continue falling towards the 0/8 one.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.