Murrey Math Lines 09.09.2015 (EUR/USD, GBP/JPY)
09.09.2015
Analysis for September 9th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still trading below 4/8. It is possible that soon the price will fix below 3/8. Earlier the SuperTrend lines formed a "bearish cross". It is very likely that in the short term downward price movement will continue. The immediate goal line stands at 0/8.
On the hourly chart a changeover of the indicating occurred. The price is trading below 0/8. Support for the pair is from the SuperTrend lines. It is very likely that we will soon get a new low.
GBP JPY, “Great Britain Pound vs Japanese Yen”
AAfter the retreat from the 0/8 mark, the cross went into a sharp increase. It is very likely that in the coming hours the SuperTrend lines will form a "bullish cross". Subsequently, after the breakdown of the level 3/8, I plan to increase the volume of my long positions.
On the hourly chart the market is trading in the middle of the building of levels. SuperTrend lines are still under the influence of the "bullish cross". Because the price is trading above 5/8, perhaps more significant increases in prices are to come.
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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.