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.

EURUSD

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.

EURUSD

 

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.

GBPJPY

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.

GBPJPY

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.