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Murrey Math Lines 29.11.2016 (EUR/USD, GBP/USD)

Analysis for November 29th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still consolidating inside the “oversold zone”. Yesterday, the price rebounded from the daily Super Trend after all. However, in the nearest future the market may test it once again. If the pair breaks it, the price may continue growing towards the 0/8 level.

At the H1 chart, the pair is moving in the middle. Yesterday, the 6/8 level provided resistance, that’s why in the nearest future the market may test the 2/8 one. If the market rebounds from it, the current flat may yet continue.

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair is still consolidating as well. Yesterday, the price broke the H4 Super Trend downwards, which means that it may continue falling towards the daily one and the 5/8 level. If later the pair rebounds from these levels, the market may start a short-term growth.

At the H1 chart, Super Trends formed “bearish cross”. Considering that the price is already moving below the 3/8 level, later it may continue falling. The closest target is at the 0/8 level; earlier, the market already rebounded from this level to the upside.

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