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Murrey Math Lines 02.12.2016 (EUR/USD, GBP/USD)

Analysis for December 2nd, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is testing the daily Super Trend. In case the price rebounds from it, the market may resume moving downwards. To confirm a new decline, the pair has to fix below the -1/8 level.



At the H1 chart, the pair rebounded from the 6/8 level twice, which means that it may resume falling. The closest target is at the 4/8 level. The price will start moving towards this level after Super Trends form “bearish cross”.




GBP USD, “Great Britain Pound vs US Dollar”

Yesterday, the GBP/USD pair rebounded quickly from the 8/8 level. As a result, in the nearest future the market may fall towards the 6/8 level. If later the pair breaks this level, the market may continue falling much deeper.



At the H1 chart, the pair also rebounded from the 8/8 level and right now is trying to rebound from the 7/8 one. Consequently, on Friday the price may test the 5/8 level. If the pair breaks it, bears may reach the 4/8 level.



 
RoboForex Analytical Department

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