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Murrey Math Lines 09.12.2016 (EUR/USD, GBP/USD)

Analysis for December 9th, 2016

EUR USD, “Euro vs US Dollar”

Yesterday, the EUR/USD pair rebounded quickly from the 1/8 level and started falling very fast. It’s highly likely that in the nearest future Super Trends may form “bearish cross” to confirm a new decline of the pair.

At the H1 chart, the 6/8 level provided resistance and the pair rebounded from it. Possibly, during the day the local correction may take place. The closest target for bears is at the 0/8 level.

GBP USD, “Great Britain Pound vs US Dollar”

Yesterday, the GBP/USD pair rebounded from the 8/8 level and the H4 Super Trend. Right now, the price is consolidating. Later, the market may test the daily Super Trend. If it is broken, the pair will continue falling.

At the H1 chart, the pair reached the 6/8 level and started a new ascending correction. If the price is able to stay below the H1 Super Trend, the market may start a new decline with the target at the 4/8 level.

RoboForex Analytical Department

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