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Murrey Math Lines 09.08.2016 (EUR/USD, GBP/USD)

Analysis for August 9th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is consolidating between Super Trends, which may soon form “bearish cross”. If the price breaks the 1/8 level and stays below it, the market will continue moving downwards.

At the H1 chart, the pair is trying to stay under the 3/8 level. If it succeeds, the market will resume falling towards the 0/8 level.

GBP USD, “Great Britain Pound vs US Dollar”

Pound broke the local low yesterday and right now is still falling. It’s highly likely that in the nearest future the price may test the 1/8 level. If the pair rebounds from this level, it may start a new ascending correction.

As we can see at the H1 chart, the pair is moving below the 1/8 level and Super Trends. Consequently, in the nearest future the price may test the 0/8 level. The future scenario depends on how the market will move at this level.

RoboForex Analytical Department

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