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.
Both AUDUSD and NZDUSD are approaching their respective “oversold areas”.
EURUSD is expected to correct upwards to reach 5/8, while GBPUSD may grow towards 3/8.
Brent continues updating this year’s highs, while the S&P 500 index is trying to recover up to 2/8.
USDCHF is heading towards 8/8; in the case of XAUUSD, the price is trading within the “oversold area” and may grow to reach 1/8.
USDJPY is moving within the “overbought area”, while USDCAD is falling towards the next target at 2/8.
Both AUDUSD and NZDUSD are completing their respective corrections.
EURUSD may fall to reach 1.2023; in the case of GBPUSD, the correction continues.
Brent may correct towards 4/8, while the S&P 500 index is expected to fall and reach 0/8 after changing the tendency.