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Home / Analytics / Forex analysis & forecasts / Forex Murray math lines and forecasts / Murrey Math Lines 04.10.2016 (EUR/USD, GBP/JPY)
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Murrey Math Lines 04.10.2016 (EUR/USD, GBP/JPY)


Analysis for October 4th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is testing the 2/8 level again. If the price rebounds from this level for the second time, it may test the 4/8 level and Super Trends once again. However, if the 2/8 level is broken, the market may reach the 0/8 one.

At the H1 chart, the pair couldn’t stay above the 8/8 level. However, if the 6/8 level provides support, the market may resume growing and try to break the 8/8 one again.

GBP JPY, “Great Britain Pound vs Japanese Yen”

The GBP/JPY pair rebounded from the H4 Super Trend and may resume its decline. The closest target is at the 2/8 level. After reaching this level, the price may start a new ascending correction.

At the H1 chart, Super Trends are still influenced by “bearish cross”. Yesterday, the price rebounded from the 4/8 level and started falling fast. If later the pair is able to fix below the 3/8 level, 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.