Home / Forex & Currency Exchange News / Murrey Math Lines 17.05.2017 (EUR/USD, GBP/JPY)

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

Article By RoboForex.com

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.

Article By RoboForex.com

Attention!
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.

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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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