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Murrey Math Lines 27.09.2016 (EUR/USD, GBP/USD)

Analysis for September 27th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair tested the 5/8 level, but couldn’t stay above it. Consequently, in the nearest future the market may resume moving downwards to reach the 3/8 level. If later the price breaks this level, the market will continue falling much deeper.



At the H1 chart, the pair is moving inside the “overbought zone”. To confirm a new decline, a local at least, the price has to break Super Trends along with the 8/8 level and stay below them. If it happens, the closest bearish target will be at the 6/8 level.




GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is being corrected under the H4 Super Trend. Moreover, the price rebounded from the 1/8 level. As a result, in the nearest future the market may resume falling towards the -2/8 level.



At the H1 chart, the pair is moving in the middle. Considering that the price rebounded from the 5/8 level earlier, the market is expected to continue falling towards the 3/8 level in the nearest future. If later this level is broken, the instrument may fall much deeper.



 
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