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Murrey Math Lines 24.08.2015 (EUR/USD, GBP/USD)

Analysis for August 24th, 2015

EUR USD, “Euro vs US Dollar”

Euro continues growing. The pair is already above the 5/8 level, which means that it may continue moving upwards. Earlier, Super Trends formed “bullish cross”. The closest target is at the 7/8 level.

As we can see at the H1 chart, the price’s first attempt to break the 8/8 level and stay inside “overbought zone” has failed. Possibly, Euro may start a correction towards the H1 Super Trend. In the future, the market may break the 8/8 level and continue growing towards the 2/8 one.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is moving inside “overbought zone”. The pair is supported by the H4 Super Trend, from which it has already rebounded several times. If later the price is able to break the 2/8 level, the lines at the chart will be redrawn.

At the H1 chart, the pair is moving above the 5/8 level, which means that it may continue growing. It’s highly likely that the market may reach a new high during Monday. The closest target is at the 8/8 level.

RoboForex Analytical Department

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