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Forex analysis & forecasts

Murrey Math Lines 20.03.2017 (EUR/USD, GBP/JPY)

20.03.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD pair continues moving upwards. The closest target for bulls is at the +1/8 level. If later the price rebounds from this level, the market may start a new correction. In this case, the pair may reach the 7/8 level.

At the H1 chart, the pair is moving inside the “overbought zone”. If later the price rebounds from the +2/8 level, the market may start a new correction towards the 6/8 one.

 

GBP JPY “Great Britain Pound vs Japanese Yen”

The GBP/JPY pair rebounded from the daily Super Trend and the 4/8 level several times. If the price is able to stay below the 3/8 level, the market may continue falling towards the 0/8 one and then start a new bullish correction.

As we can see at the H1 chart, the 7/8 level provided resistance and Super Trends formed “bearish cross”. The closest target for bears is the 4/8 level.

 

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.