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Murrey Math Lines 26.12.2016 (EUR/USD, GBP/JPY)

Analysis for December 26th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair rebounded from the 1/8 level twice and started a new ascending correction. Right now, the price is moving between Super Trends. Possibly, in the nearest future the market may continue consolidating. Consequently, soon the pair may test the daily Super Trend and the 2/8 level.

At the H1 chart, Super Trends formed “bullish cross”. On Monday, the pair may fall towards the local low. Later, the price may start another growth to reach the 4/8 level and the daily Super Trend.

GBP JPY, “Great Britain Pound vs Japanese Yen”

The GBP/JPY pair couldn’t fix above the 7/8 level and later Super Trends formed “bearish cross”. As a result, during the next several days the price may continue moving downwards. The closest target is at the 5/8 level.

At the H1 chart, the pair is about to enter the “oversold zone”. Considering that earlier the price rebounded from Super Trends again, in the future the market is expected to continue falling and break the local low. The closest target is at the -2/8 level.

RoboForex Analytical Department

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