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Murrey Math Lines 09.09.2016 (EUR/USD and GBP/USD)

Murray Math Lines, 09.09.2016

EUR USD "Euro vs. US Dollar"


Murray Math Lines, 09.09.2016

The day before the pair failed to hold above the 5/8 level and this suggests a possible resume of declining. The nearest target is 4/8 level which is strengthened by the daily Super Trend. In case of a breakout of the indicator line the market might fall further towards 3/8.

Murray Math Lines, 09.09.2016

On 1-H chart we saw a break through 7/8 level which is a fairly powerful bearish signal. During the day we can see how the pair tests 4/8 level. If this level is broken through, the bears will have carte blanch for further move down.

GBP USD "Great Britain Pound vs. US Dollar"

Murray Math Lines, 09.09.2016

The British Pound organized a rebound from 8/8 level, after which the market held under the 4-H Super Trend line. If the pair is able to hold under 6/8 level, in the short term a decline towards the 4/8 level will be possible.

Murray Math Lines, 09.09.2016

On the 1-H trend, the Super Trend lines have formed a "bearish cross". It is very likely that in the near-term the market tests 4/8 level. If this level is broken through, the price can fall even further.

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