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Murrey Math Lines 16.10.2017 (GBP/USD, USD/JPY)

16.10.2017

GBP USD, “Great Britain Pound vs US Dollar”

As we can see at the H4 chart, the GBP/USD pair is trading close to the upside border of the consolidation range near the 5/8 level at 1.3305. The price is expected to rebound from this level and start falling towards the downside border near the 3/8 one at 1.3061.

At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling towards 1.3061.

 

USD JPY, “US Dollar vs. Japanese Yen”

As we can see at the H4 chart, the USD/JPY pair is slowly falling towards its first target at the 5/8 level at 110.15. Right now, the price has to break the 7/8 level at 111.71. In this case, this scenario will continue.

At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling towards 110.15.

 

RoboForex Analytical Department

 

 

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.


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