Murrey Math Lines 17.05.2017 (EUR/USD, GBP/JPY)

17.05.2017

EUR USD "Euro vs US Dollar"

Murray Math Lines 17.05.2017 (GBP/JPY)

The EUR/USD pair has reached the 3/8 level and rebounded from it. Furthermore, on the D1 chart this level still serves as a 7/8 level. Consequenlty, in the near term we can see a descending correction develop towards 2/8 level. This correction is confirmed when the price breaks through H4 Super Trend line and holds under it.

 

Murray Math Lines 17.05.2017 (GBP/JPY)

On the H1 chart the level 8/8 has acted as a resistance. If the chart breaks through the Super Trend line afterwards, a descending correction towards 6/8 will be possible.

 

GBP JPY "Great Britain Pound vs Japanes Yen"

Murray Math Lines 17.05.2017 (GBP/JPY)

The cross-pair has broken through the nearest low and held under the Super Trend lines which in a few coming hours can form a "bearish cross". Correspondingly, in the course of the day the pair can move even lower towards 4/8 level.

 

Murray Math Lines 17.05.2017 (GBP/JPY)

The H1 chart shows that after the yesterday's rebound from the 4/8 level the market reached 0/8. If this one is broken, the bears can have enough power to lower the price further. If a breakout of -2/8 happens afterwards, the Murray analysis will be redrawn.

Attention!

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