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Murrey Math Lines 11.05.2017 (EUR/USD, GBP/JPY)

EUR USD, “Euro vs US Dollar”

As we can see at the H4 chart, the EUR/USD pair rebounded from the 8/8 level and resumed falling, and Super trends formed “bearish cross”. In the nearest future, after finishing the local correction, the market may continue moving downwards to reach the 4/8 level.

At the H1 chart, the pair is moving in the middle. On Thursday, the price may test the 5/8 level. If the pair rebounds from this level, the market may start a new decline. In this case, the closest target for bears will be at the 3/8 level.

 

GBP JPY “Great Britain Pound vs Japanese Yen”

The GBP/JPY pair is still moving upwards and supported by the H4 Super Trend. It’s highly likely that during the next several days the market may continue growing towards the 8/8 level. If later this level provides resistance, the price may start a new bearish correction.

At the H1 chart, the pair fixed above the 5/8 level, which means that it may continue growing. As a result, on Thursday the price may reach new local highs and resume its growth to reach the main target at the 8/8 level.

 

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