Murray levels analysis on 25 February 2016
EUR USD "Euro to US dollar"
The Eurodollar went into a correction and is trying to establish a retreat from the SuperTrend lines, which previously formed a "bearish cross". During the day, perhaps the resumption of decline to around 1/8. In the case of rebound from this level will probably start upward correction.
On the hourly chart the market did not manage to gain a foothold in the "oversold zone" below 0/8 at the first attempt. Subsequently, the price formed a retreat from the 2/8 level, which indicates the possibility of the resumption of decline in prices. The immediate target stands at the -2/8 line, the breakdown of which will lead to a renewal of build up of murray levels.
GBP USD "Pound to US dollar"
Earlier this week, SuperTrend lines formed a "bearish cross", which led to a significant reduction in prices. After the end of the current local correction, a resumption of decline is likely. The immediate goal appears to be the 0/8 mark.
Building of levels on both charts is the same. It is very likely that the price in the next few hours will be able to push off the line and resume the SuperTrend decline. Accordingly, soon a breakdown of the minimum and movement to the 0/8 mark is possible.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD holds above 1.0650 after US data
EUR/USD retreats from session highs but manages to hold above 1.0650 in the early American session. Upbeat macroeconomic data releases from the US helps the US Dollar find a foothold and limits the pair's upside.
GBP/USD retreats toward 1.2450 on modest USD rebound
GBP/USD edges lower in the second half of the day and trades at around 1.2450. Better-than-expected Jobless Claims and Philadelphia Fed Manufacturing Index data from the US provides a support to the USD and forces the pair to stay on the back foot.
Gold clings to strong daily gains above $2,380
Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
Ripple (XRP) price hovers below the key $0.50 level on Thursday after failing at another attempt to break and close above the resistance for the fourth day in a row.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.