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Murrey Math Lines 06.07.2016 (EUR/USD, GBP/USD)

Analysis for July 6th, 2016

EUR USD, “Euro vs US Dollar”

After rebounding from the 5/8 level successfully, Eurodollar has resumed falling. Super Trends are still influenced by “bearish cross”. It looks like in the nearest future the market may continue falling towards the closest target at the -2/8 level.



At the H1 chart, the price rebounded from the 7/8 level and then Super Trends formed “bearish cross”. Consequently, if later the price stays below the 5/8 level, it may continue falling towards the 3/8 one.




GBP USD, “Great Britain Pound vs US Dollar”

In case of Pound, I decided to close to sell orders and hold another one in case the price reaches the 0/8 level. If the pair breaks this level, it may continue falling much deeper. However, if the market rebounds from the H4 Super Trend, it may start an ascending correction.



At the H1 chart, the H1 Super Trend is trying to provide resistance. If the pair rebounds from it, the market may resume falling and reach the 0/8 level.



 
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