Murrey Math Lines: EUR/USD, GBP/JPY
|EURUSD, "Euro vs US Dollar"
It looks like after rebounding from the +1/8 level, the EUR/USD pair started forming the descending correction. The price is already moving below the 7/8 level, which means that it may continue falling towards the 5/8 one.
At the H1 chart, Super Trends formed "bearish cross". As a result, on Tuesday the pair may break the 1/8 level and then continue falling towards the -2/8 one.
GBPJPY "Great Britain Pound vs Japanese Yen"
The GBP/JPY pair rebounded from the daily Super Trend three times. Consequently, in the nearest future the market may return to the 2/8 level. If later the pair rebounds from this level, the market will resume moving upwards.
At the H1 chart, the 8/8 level provided resistance. If later the price fixes below Super Trends and the 6/8 level, the market may continue falling to reach the 4/8 one.
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