Murrey Math Lines 12.05.2017 (EUR/USD, GBP/JPY)

EUR USD, “Euro vs US Dollar”

As we can see at the H4 chart, the EUR/USD pair rebounded from the 8/8 level and resumed falling. On Friday, the price may be corrected towards Super Trends. If the pair rebounds from these levels, the market may resume moving downwards to reach the 5/8 one.

At the H1 chart, Super Trends formed “bearish cross”. Right now, the price is trading at the 4/8 level, which means that it may start a short-term pullback towards the 5/8 one. However, later the market may start a new decline to reach the 2/8 level.

GBP JPY “Great Britain Pound vs Japanese Yen”

Yesterday, the GBP/JPY pair failed to reach the 7/8 level and, as a result, broke the H4 Super Trend and started the current descending correction. If later the price breaks the H4 Super Trend, the market start falling towards the 4/8 level.

As we can see at the H1 chart, Super Trends formed “bearish cross” to confirm a new correction. If later the pair rebounds from the 3/8 level, the market may start a short-term pullback towards the 4/8 one. After the price rebounds from this level, the pair may resume its decline to reach the main target at the 0/8 one.

RoboForex Analytical Department