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Analysis of Murray’s levels for EUR/USD and GBP/USD on 19.07.2016

Article By RoboForex.com

Analysis of Murray’s level on July 19, 2016

EUR USD “Euro to US Dollar”

Analysis of Murray's levels for EUR USD "Euro to US Dollar" on July 19, 2016

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.

Analysis of Murray's levels for EUR USD "Euro to US Dollar" on July 19, 2016

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”

Analysis of Murray's levels for GBP USD "British Pound to US Dollar" on July 19, 2016

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.

Analysis of Murray's levels for GBP USD "British Pound to US Dollar" on July 19, 2016

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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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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