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.
02.09.2011
After rebounding from the daily Super Trend, the market got very close to the 0/8 level. If the market breaks this level and fixes itself below it, the price may continue falling down to the -2/8 level. After that, the lines will be redrawn.
01.09.2011
Bears tried to break the 8/8 level and the daily Super Trend several times, but failed to do it and the market rebounded from these levels each time. Most likely, bears will try to break the level during the next several days. After they fail, up-trend will continue.
31.08.2011
The descending movement at the daily chart was stopped by the 7/8 level, and the price started growing. Right now the correction is taking place, which is supported by the 4/8 level and Super Trend’s line. If the market rebounds from these levels, the price may start growing again and reach the 8/8 level.
30.08.2011
The price didn’t succeed in breaking the daily Super Trend and went back to the previous levels. The indicator failed to make “Bullish Cross”. Taking into consideration the fact that the price rebounded from the 2/8 level, we can expect the descending trend to continue to the -2/8 level. After this level is broken, the lines will be redrawn.
29.08.2011
Contrary to all expectations, Canadian Dollar decided to test the 8/8 level and the daily Super Trend’s line once again. If bears aren’t strong enough to break these levels and the market rebounds from them, we can expect the price to continue growing again.
26.08.2011
Yesterday the market decided to test the “triangle” pattern. The price rebounded from its bottom line, thus indicating the importance of this pattern. Taking into consideration that this movement is taking place in an overbought zone, we can expect the price to start growing again to the +2/8 level. If this level is broken, the lines will be redrawn.
25.08.2011
After a very significant growth, the GPB/CHF currency pair has been consolidating for several days. This movement is supported by Super Trend’s line and the 5/8 level. If the market isn’t able to break these levels and rebounds from them, we can expect the price to start growing again.
24.08.2011
The price fell down a bit over the last few hours, thus indicating the start of the movement to the 0/8 level. If the price breaks H4 Super Trend’s line and fixes itself below it, down-trend may start again. Traders, who are more conservative, are recommended to wait until the price breaks the 3/8 level, as it will be a much safer signal, although the point of entry will be a bit worse.
