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Home / Analytics / Forex analysis & forecasts / Forex Murray math lines and forecasts / Murrey Math Lines 23.08.2016 (EUR/USD, USD/JPY)
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Murrey Math Lines 23.08.2016 (EUR/USD, USD/JPY)


Analysis for August 23rd, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is moving above the H4 Super Trend again. Earlier, the price couldn’t stay below the 5/8 level, so it may resume moving upwards. The closest target for bulls is at the 7/8 level.

At the H1 chart, Super Trends have formed “bullish cross”. Considering that the price is already moving above the 7/8 level, in the future it may continue grow to break the 8/8 one. If later the market is able to stay above the 8/8 level, it may reach the +2/8 one.

USD JPY, “US Dollar vs Japanese Yen”

At first, the pair rebounded from the 1/8 level several times and fixed below the H4 Super Trend, and then got very close to the 0/8 one. If the price breaks the latter level, bears will continue their rally towards the -2/8 one.

As we can see at the H1 chart, Super Trends have formed “bearish cross”. Earlier, the pair rebounded from the 2/8 level and started the current decline. If the market breaks the 0/8 level and stays below it, the price will continue moving downwards.

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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.