Murray Math Lines 23.05.2017 (EUR/USD, GBP/JPY)
EUR USD "Euro vs US Dollar"
The EUR/USD pair has broken the Murray 4/8 level and is trying to hold above it. The Super Trend H4-line acts as a support. Consequently, in the near-term the market can resume rising towards the 5/8 level.
On the H1-chart the pair is trying to hold within the "overbought area". If the price holds above the 8/8 mark, afterwards a further rise towards the +2/8 level will be possible. If this level is broken through, the Murray analysis will be redrawn.
GBP JPY "Great Britain Pound vs. Japanese Yen"
The day before the cross rebounded from the 3/8 level and soon after held under the Super Trend H4 line. Thus, in the coming hours we can see the price moving downwards to the 5/8 level. This level can become a starting point for a local correction.
On the H1-chart the 2/8 level acts as a support. The Super Trend lines are still influenced by the "bearish cross" and this clears the way for a further downside move towards -2/8 level.
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.