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Murrey Math Lines 06.06.2017 (EUR/USD, GBP/JPY)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair rebounded from the 8/8 level, which means that it may reach a new local high. If later the price rebounds from the 2/8 level, the pair may start a new bearish correction.

At the H1 chart, the pair is also trading inside the “overbought zone”. The current uptrend is supported by Super Trends. If the market breaks the 2/8 level, the lines at the chart will be redrawn.

 

GBP JPY “Great Britain Pound vs Japanese Yen”

Possibly, In the nearest future the GBP/JPY pair may test the 1/8 level once again. If the price rebounds from this level, the market may resume growing. In this case, the closest target for bulls will be at the 4/8 level and the daily Super Trend.

The lines at the H4 and H1 charts are completely the same. To confirm a new ascending movement, the pair has to break Super Trends and the 2/8 level, and fix above them.

 

RoboForex Analytical Department

 



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