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Murrey Math Lines 30.12.2016 (EUR/USD, GBP/JPY)

Analysis for December 30th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair tested the 7/8 level and rebounded from it. To confirm a new descending movement, the price has to break Super Trends downwards. If it happens, the market may continue falling towards the 4/8 level.



At the H1 chart, the pair rebounded from the 1/8 level. On Friday, the local correction may take place, which may later followed by another descending movement towards the 3/8 level. if the market fixes below this level, it may continue moving downwards.




GBP JPY, “Great Britain Pound vs Japanese Yen”

The GBP/JPY pair is still falling. Earlier, the price rebounded from the 7/8 level and then Super Trends formed “bearish cross”. If the pair rebounds from the H4 Super Trend in the nearest future, the market may continue moving downwards to reach the 5/8 level.



At the H1 chart, the pair is consolidating between Super Trends. If the price is able to fix below the 3/8 level during the day, the market will continue falling. In this case, the closest target will be at the 0/8 level.



 
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