Murrey Math Lines 31.01.2017 (EUR/USD, EUR/JPY)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is testing the H4 Super Trend again, which may provide resistance this time. If the price rebounds from it, the market may resume falling. In this case, the target will be at the 5/8 level.

At the H1 chart, the pair is consolidating between Super Trends. To confirm a new decline, the price has to break the 6/8 level and stay below it. The closest target is at the 2/8 level.

EUR JPY, “Euro vs Japanese Yen”

The EUR/JPY pair rebounded from the 7/8 level and, as a result, started plummeting. On Tuesday, the price may be corrected and test the 5/8 level. In case it rebounds from this level, the market may resume falling to reach the 0/8 one.

As we can see at the H1 chart, the -1/8 level provided support. Consequently, in the nearest future the market may test the 1/8 level and the H1 Super Trend. If the price rebounds from them, bears may try to start a new descending movement.

RoboForex Analytical Department