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Murrey Math Lines 01.02.2016 (EUR/USD, GBP/JPY)

Analysis for February 1st, 2016

EUR USD, “Euro vs US Dollar”

The pair is moving below Super Trends, which may form “bearish cross” quite soon. In the nearest future, Eurodollar may continue moving downwards with the target at the 0/8 level. If later the price breaks this level, the market may continue falling much lower.

At the H1 chart, Eurodollar has rebounded from the 7/8 level and started moving downwards. If the market is able to stay under the 3/8 level during the day, the price will continue falling towards the 0/8 one.

GBP JPY, “Great Britain Pound vs Japanese Yen”

The pair is still moving upwards. Last Friday, Super Trends formed “bullish cross” and the price was able to stay below the 3/8 level. In the future, the market may test the 4/8 level. If it breaks this level, the market will continue growing.

At the H1 chart, the pair is moving at the top and supported by Super Trends along with the 6/8 level. On Monday, the price may reach the 8/8 level.

RoboForex Analytical Department

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