Murrey Math Lines 13.05.2016 (EUR/USD, GBP/USD)

13.05.2016

Analysis for May 13th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar resumed moving downwards and, as a result, Super Trends formed “bearish cross”. Considering that the price was able to break the 3/8 level, the closest target is now at the 1/8 one. If the pair breaks it, the market will continue falling to reach the 0/8 level.



At the H1 chart, the pair is trying to stay under the 0/8 level inside the “oversold zone”. Earlier, Super Trends formed “bearish cross”. During the day, the market may continue falling towards the -2/8 level.




GBP USD, “Great Britain Pound vs US Dollar”

Pound has been able to stay under Super Trends. Considering that earlier the price rebounded from the 7/8 level, in the nearest future the market may continue falling towards the 5/8 one. If the pair breaks it, the downtrend will continue.



At the H1 chart, the pair is moving in the middle. Yesterday the price rebounded from the 6/8 level, which means that in the nearest future it may fall towards the 2/8 one.



 
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.