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Murrey Math Lines 02.06.2016 (EUR/USD, GBP/USD)

Analysis for June 2nd, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is being corrected. If the pair rebounds from the 4/8 level and stays under the daily Super Trend during the day, the price may resume falling. Otherwise, if it stays above the 4/8 level, the current ascending correction may continue.

At the H1 chart, the target of the current correction is at the 8/8 level. However, if the price rebounds from the 7/8 level quickly, the correction may finish. After Eurodollar stays under the 6/8 level, the market will resume its decline.

GBP USD, “Great Britain Pound vs US Dollar”

Pound continues its decline, which resulted in “bearish cross” formed by Super Trends. In the nearest future, the market may fall towards the 3/8 level. If the pair breaks this level and stays below it, the price may continue falling much deeper.

The lines at the H4 and H1 charts are completely the same. The price is being corrected between Super Trends. Consequently, if the pair stays below them, the market may resume its descending movement.

RoboForex Analytical Department

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