Murrey Math Lines 27.12.2016 (EUR/USD, GBP/JPY)
27.12.2016
Analysis for December 27th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still consolidating between Super Trends. In the nearest future, the market may test the 6/8 level. If the price rebounds from this level, it may resume its decline. In this case, the closest target for bears will be at the 0/8 level.
At the H1 chart, the pair rebounded from the 4/8 level and started consolidating. However, the price couldn’t fix below the 2/8 level, which means that it may try to test the 4/8 level once again. If the market rebounds from this level one more time, the pair may start a new descending movement.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The GBP/JPY pair is still moving below Super Trends, which earlier Super Trends formed “bearish cross” after the price rebounded from the 7/8 level quickly. As a result, in the nearest future the market may continue moving downwards to reach the 5/8 level.
At the H1 chart, the pair is moving a bit above the 0/8 level, very close to the “oversold zone”. Possibly, on Tuesday bears may try to break this level and keep the price below it. If they succeed, the market is expected to continue falling towards the -2/8 level.
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