Murrey Math Lines 17.01.2017 (EUR/USD, GBP/USD)

EUR USD, “Euro vs US Dollar”

After rebounding from the H4 Super Trends yesterday, the EUR/USD pair is again moving above the 7/8 level. However, if the price breaks this level downwards, it may resume falling to the 6/8 one and the daily Super Trend.

At the H1 chart, the 5/8 level is a resistance level; the pair rebounded from it several times. Earlier, the price rebounded from the 6/8 level and, as a result, in the nearest future the market may fall towards the 2/8 level.

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is still moving downwards. if the price stays below the H4 Super Trends and fixes under the 3/8 level, the pair may continue falling. In this case, the target will be at the 1/8 level. After reaching this level, the market may start a new correction.

As we can see at the H1 chart, the pair rebounded from the 1/8 level several ties and started the current correction. To confirm a new decline, the price has to fix below Super Trends. If it happens, the market will continue falling towards the -1/8 level.

RoboForex Analytical Department