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Murrey Math Lines 02.10.2015 (EUR/USD, GBP/USD)

Analysis for October 2nd, 2015

EUR USD, “Euro vs US Dollar”

At the H4 chart, Eurodollar is still moving in the middle. If later the market is able to break the 4/8 and 3/8 levels and stay below them, the price may resume moving downwards.

At the H1 chart, the pair is moving close to the 2/8 level. Earlier, Super Trends formed “bearish cross”. If the price breaks the 1/8 level, the market will continue falling towards the -2/8 one.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is trying to break the 4/8 level. The pair is supported by Super Trends, which earlier formed “bearish cross”. The closest target is at the 2/8 level.

At the H1 chart, the pair is about to enter “oversold zone”. After the price breaks the 0/8 level, the next target will be at the -2/8 one. If this level is broken as well, the lines at the chart will be redrawn.

RoboForex Analytical Department

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