Murrey Math Lines 08.05.2017 (EUR/USD, GBP/JPY)

EUR USD, “Euro vs US Dollar”

The pair has formed a pullback from the 8/8 level, so we've got a local downward correction. The main bearish target is the 7/8 level. If a pullback from this level happens, bulls are likely going to test the +1/8 level.

There's a pullback from the +1/8 level, so the market is likely going to reach the 6/8 level during the day. At the same time, if the pair fixes above the 8/8 level, there'll be an opportunity to have price even higher.

GBP JPY, “British pound vs Japanese yen”

Price has been rising since a pullback from the Super Trend line happened. Therefore, the current local correction is going to end soon, which means we should keep an eye on the 7/8 level as the next bullish target.

The market is moving up and down between the 4/8 - 3/8 levels. If we see a pullback from the Super Trend line, bulls are likely going to achieve the 6/8 level, which could be a departure point for a downward correction.

RoboForex Analytical Department