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Murrey Math Lines 08.07.2015 (EUR/USD, GBP/USD)

Analysis for July 8th, 2015

EUR USD, “Euro vs US Dollar”

Euro has started a local correction. If the price is able to break the H4 Super Trend downwards, it will resume falling. In this case, the target will be at the 0/8 level.



At the H1 chart, the price is moving in the middle. If the price is able to rebound from the 5/8 level, it will resume falling. I’m planning to move the stop loss on my sell order to breakeven as soon as the price reaches the 4/8 level.




GBP USD, “Great Britain Pound vs US Dollar”

Pound continues falling quite steadily; bears are supported by Super Trends. The closest target is at the 1/8 level. If the price breaks this level, it will fall much deeper.



At the H1 chart, the pair has reached the 0/8 level. Yesterday, the price rebounded from the H1 Super Trend. Probably, the market may continue falling inside “oversold zone” towards the -2/8 level during Wednesday.



 
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