Murrey Math Lines 26.11.2015 (EUR/USD, GBP/USD)
26.11.2015
Analysis for November 26th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving inside “oversold zone”. In the nearest future, the pair may start a local correction. If the price isn’t able to stay above the H4 Super Trend for a long time and breaks it downwards, the market may resume its descending movement to reach the -2/8 level.
At the H1 chart, the price is moving in the middle. It’s highly likely that during the day the pair may test the 5/8 level. If the market rebounds from it, the pair will start another decline.
GBP USD, “Great Britain Pound vs US Dollar”
After rebounding from the 0/8 level fast, Pound has resumed its decline. Possibly, in the nearest future the pair may continue falling towards the -2/8 level. If the price breaks it, the lines at the chart will be redrawn.
The lines at the H4 and H1 charts are completely the same. It’s highly likely that in the nearest future the pair may reach a new local low. Later, I’m planning to open another sell order during the correction.
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