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Murrey Math Lines 10.05.2017 (EUR/USD, GBP/JPY)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair stopped falling at the 6/8 level, which means that it may start a new local correction. However, if later the price rebounds from the 7/8 level and the H4 Super Trend, the market may resume falling towards the 5/8 level.

As we сan see at the H1 chart, the pair rebounded from the 1/8 level and started falling, and then the 4/8 one provided support. The closest target is at the 6/8 level. If later the price rebounds from this level, the market may start a new decline.

 

GBP JPY “Great Britain Pound vs Japanese Yen”

The GBP/JPY pair rebounded from the -1/8 level and started the current growth. It’s highly likely that in the nearest future the market may continue moving upwards. If later the 8/8 level provides resistance, the price may start a new bearish correction.

At the H1 chart, the pair resumed its growth after a short consolidation. The main target is at the 8/8 level, but if the price rebounds from the 6/8 level in the nearest future, the market may start a new local bearish correction.

 

RoboForex Analytical Department

 



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