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Murrey Math Lines 03.10.2016 (EUR/USD, GBP/JPY)

Analysis for October 3rd, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair rebounded from the 2/8 level and right now is moving in the middle of the H4 chart. Consequently, in the nearest future the market may grow towards the 6/8 level. If later the price breaks this level, it may continue growing much higher.

At the H1 chart, the pair is trying to stay above the 8/8 level. Super Trends formed “bullish cross”, which means that in the nearest future the market may grow towards the 2/8 level. After reaching it, the price may start a new correction.

GBP JPY, “Great Britain Pound vs Japanese Yen”

The GBP/JPY pair is trying to stay below the 4/8 level and the H4 Super Trend. As a result, in the nearest future the market may fall towards the 2/8 level. If the price rebounds from this level, the price will start a new ascending correction.

At the H1 chart, Super Trends formed “bearish cross”. If the price is able to fix under the 3/8 level during the day, the market will continue falling to reach the 0/8 one.

RoboForex Analytical Department

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