Murrey Math Lines: EUR/USD, GBP/USD
Analysis for May 13th, 2016
EURUSD, “Euro vs US Dollar”
Eurodollar resumed moving downwards and, as a result, Super Trends formed “bearish cross”. Considering that the price was able to break the 3/8 level, the closest target is now at the 1/8 one. If the pair breaks it, the market will continue falling to reach the 0/8 level.
At the H1 chart, the pair is trying to stay under the 0/8 level inside the “oversold zone”. Earlier, Super Trends formed “bearish cross”. During the day, the market may continue falling towards the -2/8 level.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound has been able to stay under Super Trends. Considering that earlier the price rebounded from the 7/8 level, in the nearest future the market may continue falling towards the 5/8 one. If the pair breaks it, the downtrend will continue.
At the H1 chart, the pair is moving in the middle. Yesterday the price rebounded from the 6/8 level, which means that in the nearest future it may fall towards the 2/8 one.
