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Murrey Math Lines 26.09.2016 (EUR/USD, GBP/JPY)

Analysis for September 26th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair rebounded from the daily Super Trend and the 4/8 level one more time, which means that it may move downwards, at least in the short-term. The closest target is at the 2/8 level. If later the price rebounds from this level, the market will test the 4/8 one again.

At the H1 chart, the pair couldn’t stay above the 8/8 level. Consequently, in the nearest future the market may fall towards the 6/8 level. The future scenario depends on how the price will move there.

GBP JPY, “Great Britain Pound vs Japanese Yen”

The GBP/JPY pair is still falling. At the end of last week, the price couldn’t stay above the H4 Super Trend. At the moment, the market is moving below the 4/8 level, which means that it may continue falling towards the 2/8 one.

At the H1 chart, the price is moving inside the “oversold zone”; Super Trends are still influenced by “bearish cross”. Consequently, in the nearest future the market may test the -2/8 level. In case this level is broken, the lines at the chart will be redrawn.

RoboForex Analytical Department

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