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Murrey Math Lines 01.06.2016 (EUR/USD, GBP/USD)

Analysis for June 1st, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is being corrected between Super Trends. Earlier, the price rebounded from the 3/8 level and started the current correction. If later the price stays under Super Trends, it may start another descending movement towards at the 2/8 level.



The current ascending correction was stopped by the trend line; right now the price is attempting to rebound from it. If Eurodollar breaks the 3/8 level and stays below Super Trends, the market will start another descending movement.




GBP USD, “Great Britain Pound vs US Dollar”

Pound rebounded from the 1/8 level twice and left the “overbought zone”. It’s highly likely that during the next several hours Super Trends may form “bearish cross”. In the nearest future, the market may fall towards the 3/8 level. If the pair breaks it, the price may continue falling much deeper.



The lines at the H4 and H1 charts are completely the same. Bears are supported by the H1 Super Trend; the price has already rebounded from it. After finishing the local correction, the market may move towards the 4/8 level.



 
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