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Murrey Math Lines 30.07.2015 (EUR/USD, GBP/JPY)

Analysis for July 30th, 2015

EUR USD, “Euro vs US Dollar”

It looks like Eurodollar is resuming its decline. I’m planning to increase my position as soon as the pair breaks the daily Super Trend and stays below it. Possibly, the market may reach the 0/8 level in the nearest future.



At the H1 chart, the price is moving in the middle. Earlier Super Trends formed “bearish cross”. After the pair is able to stay below the 3/8 level, the next target will be at the 0/8 one, which may later become the starting point of a new local correction.




GBP JPY, “Great Britain Pound vs Japanese Yen”

The pair is still moving in the middle of the chart. The price has been able to stay above Super Trends, which went into “green zone” earlier. During the next several days, the market may continue growing towards the 5/8 level.



As we can see at the H1 chart, at the beginning of the week, Super Trends formed “bullish cross”. The pair is trying to stay above the 8/8 level, which means that it may continue growing towards the 2/8 one. After breaking this level, the lines at the chart will be redrawn and the price may continue growing.



 
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