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Murrey Math Lines 08.07.2016 (EUR/USD, GBP/USD)

Analysis for July 8th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar has successfully fixed under the H4 Super Trend. Earlier, the pair rebounded from the 2/8 level, which means that it may resume falling. The closest target is at the -2/8 level. if it is broken, the lines at the chart will be redrawn.

As we can see at the H1 chart, the pair may test the 4/8 level once again. If it happens and the price rebounds from this level, the market will resume moving towards the 0/8 one.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is still moving under the H4 Super Trend; earlier, the pair rebounded from it several times. In the nearest future, the price may continue its descending movement towards the 0/8 level. If the market rebounds from this level, the pair may start an ascending correction.

As we can see at the H1 chart, the pair may test the H1 Super Trend during the day. If the price rebounds from this level and then stays under the 2/8 one, the market may resume moving downwards to reach the 0/8 one.

RoboForex Analytical Department

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