Murray Math Lines 24.05.2017 (EUR/USD, GBP/JPY)
EUR USD "Euro vs US Dollar"
The EUR/USD pair has rebounded from the 4/8 level and held under the Super Trend H4-line. Consequently, in the near-term the pair can lower to reach 3/8 level. If this level is broken through, we can see the pair moving further towards 2/8.
On the H1-chart, the Super Trend lines have formed a "bearish cross". The nearest target is the 6/8 level. If the price breaks through and holds under it, a yet another descending move towards the 4/8 level will be possible.
GBP JPY "Great Britain Pound vs Japanese Yen"
The cross keeps consolidating. Earlier the Super Trend lines formed a "bearish cross". If the price holds under the 5/8 level afterwards, the market can resume moving downwards to reach 3/8 level.
On the H1-chart the price is being traded between the levels. This continued downside movement is confirmed when a rebound from the 4/8 level occurs and the price holds under the Super Trend lines. If this happens, the level -2/8.will become the next target for the price.
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.