Murrey Math Levels is one of the classic approaches to 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.
Murrey math lines are based on the approach and observation of William Gann, also used for forecasting, but Murrey was able to adapt this system, making it understandable for investors. The Murrey math levels approach is to track the 8 major lines (price levels) that together make up the "Murrey math lines" indicator. Despite the fact that the method of analysis and forecasting according to Murrey math lines is quite complex, experts consider it unique and capable of performing in combination with others. On this page, you will find Murrey math lines analytics from RoboForex experts.
The next upside target in Brent is at 6/8; in the case of the S&P 500 index, the price is trading within the “oversold area”.
USDCHF is approaching the “overbought area”, while XAUUSD is heading to reach 3/8.
USDJPY may break 3/8 and continue falling; in the case of USDCAD, the price has finished the correction and may resume trading downwards soon.
AUDUSD may fall to reach 3/8, while NZDUSD is still expected to continue trading downwards.
EURUSD is expected to break 3/8 and continue falling; in the case of GBPUSD, the price may complete the correction at 6/8.
Brent may correct down to 7/8, while the S&P 500 index is approaching the “oversold area”.
USDCHF may fall towards the support at 2/8, while XAUUSD is expected to break the resistance and continue growing to reach 8/8.
USDJPY may grow and reach 7/8, while USDCAD is trading within the “oversold area”.