Murrey Math Lines 07.08.2015 (EUR/USD, GBP/USD)
07.08.2015
Analysis for August 7th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is being corrected below Super Trends, which earlier formed “bearish cross”. If the price is able to stay below the 3/8 level, it may continue falling towards the 0/8 one.
At the H1 chart, the price is moving below the 3/8 level. If later the pair is able to break Super Trends and stay below them, I’ll open another sell order with the target at the -2/8 level.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is moving below the 3/8 level, which means that it may continue falling. It’s highly likely that Super Trends may form “bearish cross” quite soon. As soon as it happens, I’m planning to increase my short position.
At the H1 chart, the pair is trying to enter “oversold zone”. Earlier, Super Trends formed “bearish cross”. In the nearest future, the market may test the 1/8 level, and if it rebounds from the level, the price may resume falling.
RoboForex Analytical Department
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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.