Murrey Math Lines 11.02.2016 (EUR/USD, GBP/JPY)
11.02.2016
Analysis for February 11th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar continues growing; the current ascending movement is supported by Super Trends. It’s highly likely that in the nearest future the market may continue moving upwards to reach the 6/8 level.
The lines at the H4 and H1 charts are completely the same. Several hours ago, the price rebounded from the H1 Super Trend, which means that the market may continue moving upwards. It’s highly likely that Eurodollar may reach a new high during the day.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The bearish tendency continues. Earlier, Super Trends formed “bearish cross”. If the market stays below the 3/8 level, it may continue its descending movement towards the 2/8 one.
At the H1 chart, the current decline is supported by Super Trends. The price is moving inside “oversold zone”. If later the pair breaks the -2/8 level, the lines at the chart will be redrawn.
RoboForex Analytical Department
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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.