Murrey Math Lines 26.09.2016 (EUR/USD, GBP/JPY)
26.09.2016
Analysis for September 26th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the daily Super Trend and the 4/8 level one more time, which means that it may move downwards, at least in the short-term. The closest target is at the 2/8 level. If later the price rebounds from this level, the market will test the 4/8 one again.
At the H1 chart, the pair couldn’t stay above the 8/8 level. Consequently, in the nearest future the market may fall towards the 6/8 level. The future scenario depends on how the price will move there.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The GBP/JPY pair is still falling. At the end of last week, the price couldn’t stay above the H4 Super Trend. At the moment, the market is moving below the 4/8 level, which means that it may continue falling towards the 2/8 one.
At the H1 chart, the price is moving inside the “oversold zone”; Super Trends are still influenced by “bearish cross”. Consequently, in the nearest future the market may test the -2/8 level. In case this level is broken, the lines at the chart will be redrawn.
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.