Murrey Math Lines 05.12.2016 (EUR/USD, GBP/JPY)
05.12.2016
Analysis for December 5th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the daily Super Trend three times and, as a result, broke the local low. It’s highly likely that in the nearest future the market may break the -2/8 level. In this case, the lines at the chart will be redrawn.
At the H1 chart, the 1/8 level provided support. Taking into account “bearish cross” formed by Super Trends, in the nearest future the market may continue falling towards the -1/8 level.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The GBP/JPY pair rebounded from the H4 Super Trend and, as a result, fixed above 6/8 level. Consequently, in the nearest future the market may continue growing towards the 7/8 level.
At the H1 chart, the pair rebounded from the 7/8 level twice and right now is moving inside the “overbought zone”. During the day, the price may break the +2/8 level. If the pair breaks it, 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.