Murrey Math Lines 09.06.2016 (EUR/USD, GBP/USD)
09.06.2016
Analysis for June 9th, 2016
EUR USD, “Euro vs US Dollar”
In case of Eurodollar, the growth is slowing down. If the price breaks the H4 Super Trend, it may start a new descending correction. In this case, the first target for bears will be at the daily Super Trend. After breaking it, the market will continue falling to reach the 4/8 level.
At the H1 chart, Eurodollar has rebounded from the 7/8 level, thus completing the current ascending movement. If later the price stays under Super Trends and the 6/8 level, the market will start a new correction.
GBP USD, “Great Britain Pound vs US Dollar”
After another rebound from the 8/8 level, Pound is trying to stay under Super Trends. If the pair succeeds, the price will fall towards its local low and the 3/8 level. If the pair breaks these levels, the market may continue falling much deeper.
The lines at the H4 and H1 charts are completely the same. It’s highly likely that in the nearest future Super Trends may form “bearish cross” and, as a result, the market will resume falling. If later the pair stays below the 3/8 level, the next target will be at the 0/8 one.
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