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Murrey Math Lines 28.09.2016 (EUR/USD, GBP/JPY)

Analysis for September 28th, 2016

EUR USD, “Euro vs US Dollar”

Yesterday, the EUR/USD pair broke Super Trends and managed to stay below the 4/8 level, which means that it may continue moving downwards. Consequently, after finishing the local correction, the market may resume falling towards the 1/8 level.

The pair left the “overbought zone” yesterday and Super Trends formed “bearish cross”. As a result, in the nearest future the market may fall towards the 5/8 level. After reaching it, the price may start a new ascending correction.

GBP JPY, “Great Britain Pound vs Japanese Yen”

The GBP/JPY pair is still consolidating close to the H4 Super Trend. It’s highly likely that in the nearest future the market may test the 4/8 level. If it rebounds from this level, the price will continue falling towards the closest bearish target at the 2/8 one.

At the H1 chart, the price is moving in the middle as well. Super Trends are still influenced by “bearish cross”. To confirm a new decline, the price has to fix under the 3/8 level.

RoboForex Analytical Department

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