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.
USDCHF remains under pressure and is expected to test 0/8, while XAUUSD may correct towards 2/8.
The correction in USDJPY is over; USDCAD is trading back to 0/8.
Both AUDUSD and NZDUSD are trading upwards and expected to continue their respective ascending tendencies.
EURUSD may trade upwards to reach the resistance at 1.1962, while GBPUSD is expected to continue moving within the uptrend.
The uptrend in Brent continues; the S&P 500 may break the resistance and continue trading upwards.
USDCHF is expected to continue moving downwards, while XAUUSD is still moving inside the “oversold area”.
Both USDJPY and USDCAD may continue falling with the target at 1/8.
Both AUDUSD and NZDUSD have reached their respective “overbought areas” and are expected to correct downwards.