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Murrey Math Lines 18.05.2017 (EUR/USD, GBP/JPY)

EUR USD "Euro vs US Dollar"

Murrey Math Lines 18.05.2017 (EUR/USD)

The EUR/USD pair has broken the Murrey level 3/8 and held above it. The upside movement found support in the face of the Super Trend H4-line. In the near-term we can see a test of 4/8. If this level is rebounded from, this can serve as confirmation of a bearish correction.

 

Murrey Math Lines 18.05.2017 (EUR/USD)

On the H1-chart, a local correction is gaining momentum. If the market holds above the Super Trend line afterwards, this can clear the way for further rise of the price towards 8/8.

 

GBP JPY "Great Britain Pound vs Japanese Yen"

Murrey Math Lines 18.05.2017 (GBP/JPY)

The Super Trend lines have formed a "bearish cross" and allowed the price to reach 4/8 level. Then the market started a local correction. Afterwards we can see the market to continue going lower to test the 3/8 mark.

 

Murrey Math Lines 18.05.2017 (GBP/JPY)

On the H1-chart the level 0/8 has acted as a support and given the space for a local correction. If the price goes under the Super Trend line in the course of the day, the most probable scenario will be a downside movement towards the -2/8 level. If this one is broken, the Murray analysis will be redrawn.



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