Murrey Math Lines 29.05.2017 (EUR/USD, GBP/JPY)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair failed to fix above the 8/8 level, which means that it may start a new descending correction. The closest target for bears is at the 3/8 level and the daily Super Trend.  If later the price breaks these levels, the market may continue moving downwards to reach the 2/8 one.

At the H1 chart, Super Trends formed “bearish cross”. On Monday, the price may start a short-term growth towards the 7/8 level. If later the pair rebounds from this level, the market may start a new decline to reach the 4/8 one.

GBP JPY “Great Britain Pound vs Japanese Yen”

After reaching the 3/8 level, the GBP/JPY pair started a new local correction. Earlier, the price rebounded from the 5/8 level several times and, as a result, started falling and broke the local low. If later the 4/8 level provides resistance, the market may continue falling towards the 2/8 one.

As we can see at the H1 chart, the pair was supported by the 2/8 level. In the nearest future, the market may grow towards the 4/8 level. If later the price rebounds from this level, the pair may the market may start a new decline towards the 0/8 one.

RoboForex Analytical Department