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Murrey Math Lines 19.09.2016 (EUR/USD, GBP/JPY)

Analysis for September 19th 2016

EUR USD, “Euro vs US Dollar”

Last Friday, the EUR/USD pair broke its local low and Super Trends formed “bearish cross”. If the price is able to stay below the 3/8 level, the market will continue falling to reach the 1/8 one.



At the H1 chart, the pair is moving at the bottom. The closest bearish target is at the 0/8 level. If the price rebounds from this level upwards, the market will start a new local ascending correction.




GBP JPY, “Great Britain Pound vs Japanese Yen”

The GBP/JPY pair is falling. After forming a long consolidation range, the price broke the 6/8 level and Super Trends formed “bearish cross”. During the day, the market may fix under the 5/8 level and fall towards the 4/8 one.



At the H1 chart, the price managed to stay under the 3/8 level, which means that it may continue falling. The closest target is at the 0/8 level. Later, after reaching this level, the market may start a new local ascending correction.


 
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