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Murrey Math Lines 07.12.2016 (EUR/USD, GBP/USD)

Analysis for December 7th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is again moving below the 0/8 level, but didn’t fix under Super Trends so far. As soon as it happens, the price may resume falling towards the -1/8 level. After reaching it, the market may start a local ascending correction.

At the H1 chart, the pair left the “overbought zone” and fixed below the 8/8 level. In the nearest future, the market may fall towards the 5/8 level. If later the price breaks this level, it may continue moving downwards.

GBP USD, “Great Britain Pound vs US Dollar”

The GBP/USD pair couldn’t fix above the 8/8 level inside the “overbought zone” and right now is moving below this level and the H4 Super Trend. As a result, during the next several days the market may fall towards the 6/8 level.

At the H1 chart, Super Trends formed “bearish cross”. The closest target is at the 6/8 level. If later this level is broken, the market may continue falling towards the 4/8 one.

RoboForex Analytical Department

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