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Home / Analytics / Forex analysis & forecasts / Forex Murray math lines and forecasts / Murrey Math Lines 03.10.2016 (EUR/USD, GBP/JPY)
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Murrey Math Lines 03.10.2016 (EUR/USD, GBP/JPY)


Analysis for October 3rd, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair rebounded from the 2/8 level and right now is moving in the middle of the H4 chart. Consequently, in the nearest future the market may grow towards the 6/8 level. If later the price breaks this level, it may continue growing much higher.

At the H1 chart, the pair is trying to stay above the 8/8 level. Super Trends formed “bullish cross”, which means that in the nearest future the market may grow towards the +2/8 level. After reaching it, the price may start a new correction.

GBP JPY, “Great Britain Pound vs Japanese Yen”

The GBP/JPY pair is trying to stay below the 4/8 level and the H4 Super Trend. As a result, in the nearest future the market may fall towards the 2/8 level. If the price rebounds from this level, the price will start a new ascending correction.

At the H1 chart, Super Trends formed “bearish cross”. If the price is able to fix under the 3/8 level during the day, the market will continue falling to reach the 0/8 one.

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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.