One of the classic approaches to the currency market analysis, which is successfully applied to everyday trading processes. Murrey math lines can be used for understanding both short- and long-term outlooks. As a rule, a strategy that involves Murrey math lines includes other types of technical analysis.
The uptrend in EURUSD is at stake as the pair continues falling; in the case of GBPUSD, the price is moving towards 5/8.
Brent has reached the “overbought area”, while the S&P 500 index may rebound from 5/8 and resume growing.
USDCHF is still moving downwards, while XAUUSD may fall to reach 1812.50.
Bears are getting weaker but may yet push USDJPY towards 0/8, while USDCAD is expected to continue moving within the downtrend with the target at -1/8.
AUDUSD continues the correction towards 5/8, while NZDUSD is expected to resume growing.
EURUSD may fall to reach 3/8, while GBPUSD is expected to complete the correction.
Both EURUSD and GBPUSD may correct to reach 6/8.
USDJPY may trade downwards and reach -1/8, while USDCAD is expected to continue falling with the target at 0/8.