Article By RoboForex.com
Analysis of Murray’s level on July 19, 2016
EUR USD “Euro to US Dollar”
After pullback from daily SuperTrend line, Euro-US Dollar returned to descending. Because price fixed below mark 2/8, then in the short terms, further market downtrend to level -2/8 is possible.
On 1 hour chart, SuperTrends formed “bearish cross”, but still the pair is traded between indicators’ lines. Along with that, because price fixed below mark 3/8, soon descending to level 0/8 is possible.
GBP USD “British Pound to US Dollar”
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On 1 hour chart, hitch of the pair to the top was stopped by mark 3/8, from which row of pullbacks to the down was happened. So, if market fixes below level 2/8 and SuperTrends lines, then resuming of descending is possible. The nearest bearish goal is mark 1/8.
On 1 hour chart, SuperTrends lines formed “bearish cross”. Because price formed pullback from level 6/8, then further test of mark 2/8 is possible. In case of it breakage, more significant market descending is possible.
Article By RoboForex.com
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