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.
08.08.2014
Having reversed from daily Supertrend line as well as 3/8 level, AUDUSD has resumed descending impulse and is now trading near «oversold area». Nearest target for sellers is considered to be at -2/8, in case price pulls back from this level, it will restructure all lines.
07.08.2014
AUDUSD has pulled back from daily Supertrend, my take-profit order for short-term long trade was executed. Support is also provided by 3/8 level. It’s not excluded that decline would be resumed and price will break out 0/8 level and enter «oversold area».
06.08.2014
Correctional move is continuing on AUDUSD, it has started from 0/8 level. It’s not excluded that daily Supertrend can be tested soon. If sellers will step in the market from the indicator line, downtrend can be continued.
05.08.2014
After pullback from 0/8, AUDUSD has corrected. Price has already accepted area above Supertrend line. Breakout of 2/8 will become the signal for continuation of the correctional move toward daily Supertrend and 3/8 line.
04.08.2014
Friday’s long position on a pullback from 0/8 was successful and market has given me opportunity to move stop to breakeven. After that price can move to 3/8 and daily Supertrend. In case we see pullback from that level, downtrend can be resumed.
01.08.2014
Recently, AUDUSD had touched 0/8 level and take profit order was executed in my trade. Price now is testing 0/8 again and in case it pulls back from this level, correctional move to 2/8 can follow.
31.07.2014
Australian Dollar is getting closer to the 0/8 level. Today price may rebound from this level and start correction. During correction price may try to test the 2/8 level.
30.07.2014
Australian Dollar is moving between Super Trends trying to stay below daily indicator. Presumably, in a few hours “bearish cross” will be formed.
