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Murrey Math Lines 31.03.2015 (EUR/USD, GBP/USD)

Analysis for March 31st, 2015

EUR USD, “Euro vs US Dollar”

The market has rebounded from the 6/8 level several times and been able to stay below Super Trends, which have already formed “bearish cross”. I’m planning to increase my position when after the price stays below the 4/8 level. If the market breaks the 3/8 level, it will continue falling to reach the 1/8 level or even the 0/8 one.

The pair is moving in the middle of the H1 chart. Earlier, Super Trends formed “bearish cross”. The closest target right now is at the 1/8 level, but the pair may probably break it.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is attempting to leave its consolidation channel. After rebounding from the 4/8 level, the pair has been able to stay below Super trends and the 2/8 one.  all these indicate that the market may continue falling towards the -2/8 level.

As we can see at the H1 chart, Super Trends have formed “bearish cross”. Considering that the price is already moving below the 3/8 level, it may continue falling towards the 0/8 one.

RoboForex Analytical Department

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