Murray Math Lines 25.05.2017 (EUR/USD, GBP/JPY)
EUR USD "Euro vs US Dollar"
The EUR/USD is once again testing the Murray level 4/8. If price rebounds from this level once again, a further downside move towards the 3/8 and the daily Super Trend line will be possible.
On the H1-chart, price is once again being traded on the 8/8 level. If the pair rebounds from this level afterwards and holds under the Super Trend line, a correction towards 6/8 will come to the fore.
GBP JPY "British Pound vs Japanese Yen"
The cross has rebounded from the Murray level 5/8 the second time. Earlier the Super Trend lines formed a "bearish cross". Consequently, in the short-run the market can move lower towards the 3/8 level.
On the H1-chart the 4/8 level has once again acted as a resistance. If the Super Trend lines form a 'bearish cross", this will be seen as a confirmation of a further move downwards. The nearest target is the -1/8 level. If this level is broken through, the pair can fall even lower.
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.