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Murrey Math Lines 02.06.2017 (EUR/USD, GBP/JPY)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still consolidating between the 8/8 level and the H4 Super Trend. In the nearest future, the market may grow towards the 1/8 level. If later the price rebounds from this level, the pair may start a new bearish correction.

As we can see at the H1 chart, the price may test the 7/8 level. if the pair rebounds from this level, the market may resume its ascending movement and reach a new local high. The closest target for bull is at the 2/8 level.

 

GBP JPY “Great Britain Pound vs Japanese Yen”

The GBP/JPY pair rebounded from the 3/8 level and righty now is already moving above the H4 Super Trend. Later, the price may test the 5/8 level. If it rebounds from this level, the market may start a new descending correction.

At the H1 chart, Super Trends formed “bullish cross”. Earlier, the 2/8 level provided support. If the pair fixes above the 4/8 level in the future, the market may grow towards the 6/8 one.

 

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