Forex Murrey Math Lines and Forecasts


Murrey Level Analysis for EUR/USD and GBP/USD: July 20, 2018
Murrey Level Analysis for EUR/USD and GBP/USD: July 20, 2018

20.07.2018EUR/USDOn H4, the EUR/USD is trading within a consolidation range between 3/8 and 5/8, while we can expect the price to rise to the resistance at 5/8.Once 3/8 gets broken o...

Murrey Level Analysis for USD/CHF and GOLD: July 19, 2018
Murrey Level Analysis for USD/CHF and GOLD: July 19, 2018

19.07.2018USD/CHFOn H4, 7/8 breakout may lead to the USD/CHF price falling till the support at 5/8.H1 charts show the same Murrey levels as H4, and the likelihood of the price going ...

Murrey Level Analysis forUSD/JPY and USD/CAD: July 18, 2018
Murrey Level Analysis forUSD/JPY and USD/CAD: July 18, 2018

18.07.2018USD/JPYOn H4, USD/JPY is expected to test +1/8, after which a pullback and a fall to 8/8 may occur.On H1, he price may fall after the support at +1/8 is broken out. The tar...

Murrey Level Analysis for AUD/USD and NZD/USD: July 17, 2018
Murrey Level Analysis for AUD/USD and NZD/USD: July 17, 2018

17.07.2018AUD/USDOn H4, 2/8 breakout may lead to the AUD/USD price rising till 3/8.On H1, if 5/8 gets broken out, the odds that the price will rise till the resistance at 8/8 will ge...

Murrey Level Analysis for EUR/USD and GBP/USD: July 16, 2018
Murrey Level Analysis for EUR/USD and GBP/USD: July 16, 2018

16.07.2018EUR/USDOn H4, the EUR/USD is back to a consolidation range, while we can expect the price to rise to the 5/8 resistance.On H1, the price has broken out the 3/8 level, which...

Murrey Math Lines 13.07.2018 (EURUSD, GBPUSD)
Murrey Math Lines 13.07.2018 (EURUSD, GBPUSD)

13.07.2018EURUSD, “Euro vs. US Dollar”As we can see in the H4 chart, EURUSD is consolidating between the 3/8 and 5/8 levels. In this case, the price is expected to break the 3/8 leve...

Murrey Math Lines 12.07.2018 (USDCHF, GOLD)
Murrey Math Lines 12.07.2018 (USDCHF, GOLD)

12.07.2018USDCHF, “US Dollar vs Swiss Franc”In the H4 chart, USDCHF is expected to continue growing to reach the resistance at the 8/8 level.In the H1 chart, the pair is consolidatin...

Murrey Math Lines 11.07.2018 (USDJPY, USDCAD)
Murrey Math Lines 11.07.2018 (USDJPY, USDCAD)

11.07.2018USDJPY, “US Dollar vs. Japanese Yen”As we can see in the H4 chart, USDJPY is trading inside the “overbought zone”. If the price breaks the 8/8 level, it may resume falling ...

Murrey Math Lines 10.07.2018 (AUDUSD, NZDUSD)
Murrey Math Lines 10.07.2018 (AUDUSD, NZDUSD)

10.07.2018AUDUSD, “Australian Dollar vs US Dollar”In the H4 chart, the pair is expected to test the 3/8 level, rebound from it, and then resume falling towards the support at the 1/8...

Murrey Math Lines 09.07.2018 (EURUSD, GBPUSD)
Murrey Math Lines 09.07.2018 (EURUSD, GBPUSD)

09.07.2018EURUSD, “Euro vs. US Dollar”In the H4 chart, EURUSD may break the 5/8 level and then continue growing towards the resistance at the 6/8 one.As we can see in the M15 chart, ...


About Murrey Math Lines

Being rather a new trading indicator, Murrey math lines become more prominent with each day.  Not only can it show supports and resistances, but also helps in determining the trends and trend changes. Using the respective indicator is quite simple, due to its resemblance to pivot points and Fibonacci retracements. Murrey math lines and forecasts were developed based on the research performed by William Gann, and therefore, represent an easy way to realize Gann.

 

Using the Murrey Math Lines

Murrey math lines and forecasts come in pretty handy when striving for the 100% fulfilled Technical Analysis. The great contribution of T. H. Murrey was the development of a system of geometry that can be used to follow market price movements in time.

The indicator includes 9 lines that move parallel to one another. The first line from the bottom (0/8 - oversold) and the last one (8/8 - overbought) are the hardest lines to cross, and when it happens, the chances of the price reversal are pretty high. The normal trading range is considered to be between the lines 3/8 and 5/8. These lines are actually crucial in determining the state of the trading market. If the price stays near the line 5/8 for more than 8-9 days, it is advisable to sell in this zone. When the price is running down below the line 3/8, it will most likely continue falling to the next resistance level.

When the price appears between two lines, the upper one is regarded as resistance and the lower one - as support.

What Should the Trader Be Cautious Of?

Murrey Math lines are basically a set of support and resistance lines and like any such line are unpredictive. This means that while trading with the help of these lines, there's always a risk of price not moving in the direction suggested by Murrey. Therefore, the trading strategy that is based on Murrey math lines better have a good risk management to avoid losing capital.

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