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Murrey Math Lines 05.11.2016 (EUR/USD, GBP/JPY)

Analysis for December 5th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair rebounded from the daily Super Trend three times and, as a result, broke the local low. It’s highly likely that in the nearest future the market may break the -2/8 level. In this case, the lines at the chart will be redrawn.



At the H1 chart, the 1/8 level provided support. Taking into account “bearish cross” formed by Super Trends, in the nearest future the market may continue falling towards the -1/8 level.




GBP JPY, “Great Britain Pound vs Japanese Yen”

The GBP/JPY pair rebounded from the H4 Super Trend and, as a result, fixed above 6/8 level. Consequently, in the nearest future the market may continue growing towards the 7/8 level.



At the H1 chart, the pair rebounded from the 7/8 level twice and right now is moving inside the “overbought zone”. During the day, the price may break the 2/8 level. If the pair breaks it, the lines at the chart will be redrawn.



 
RoboForex Analytical Department

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