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.
30.05.2012
The GBP/JPY currency pair is inside an “oversold zone” and moving towards the -2/8 level. There is a possibility that this level may be broken within the next couple of days and the lines at the chart will be redrawn. After the market specifies new targets, we may place Take Profit on our sell orders.
29.05.2012
The lines at the H4 and the daily charts are completely the same. The EUR/JPY currency pair has been consolidating inside an “oversold zone” for several days already, and this correction is supported by the Super Trend’s line. In the near term, we can expect the price to continue moving downwards and reach, at least, the -2/8 level.
28.05.2012
The USD/JPY currency pair is still being corrected between the 5/8 and 3/8 levels. The bulls haven’t been able to break the daily Super Trend yet. In the near term, we can expect the price to start falling down again towards the 0/8 level.
25.05.2012
The NZD/JPY currency pair continues consolidating below the 3/8 level, the bears are supported by the H4 Super Trend’s line. If the price rebounds from the line, the market will continue falling down towards the 0/8 level.
24.05.2012
After breaking the H4 Super Trend’s line backwards, the NZD/JPY currency pair started consolidating and it was a signal to open a short-term sell order. The price may continue moving downwards during the day. The target is the 0/8 level.
23.05.2012
After rebounding from the Super Trend’s line once again, the bulls are trying to break the 8/8 level one more time. The market may enter an “overbought zone” within the next couple of days and break the +2/8 level. After that the lines at the chart will be redrawn.
22.05.2012
After reaching the 8/8 level, the market hasn’t been able to break the 6/8 one, which is a very good bullish signal. The price may break the 8/8 level within the next several days. After that we can expect the market to break the +2/8 level and the lines at the chart will be redrawn.
21.05.2012
After rebounding from the daily Super Trend’s line last week, the USD/JPY currency pair continues falling down. Currently the correction is taking place, which was started at the 5/8 level may be finished within the next several days. After that we can expect the price to continue falling down towards the 4/8 level.
