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.
15.07.2011
Yesterday the price made a strong downward movement, broke the -2/8 level, and the lines were redrawn. The target is still the 0/8 level at the daily chart, the level where Take Profit is. In the near term, we should expect down-trend to continue its movement.
13.07.2011
The price has reached the target 0/8 level and rebounded from it twice, thus indicating the importance of this level. The first target for bulls is the 2/8 level, and a daily Super Trend as well. If the price breaks both of these levels, it will be able to move to higher targets.
13.07.2011
The market resumed its downward movement, as we expected. After the price had broken the -2/8 level, the levels were redrawn. The main target now is the 0/8 level, which may be reached within several days.
12.07.2011
4 hour Super Trend has reached red zone. Judging by the range of the completed correction, the price may fall down to the -2/8 level. If this level is broken, the lines will be redrawn.
08.07.2011
The market is being corrected, and this correction is supported by both Super Trends (daily and 4 Hour). If the market rebounds from indicators lines, there will be a signal for the price to start moving downwards again. The price couldn’t fix itself above the 2/8 level, that’s why the target level is -2/8, where Take Profit is.
07.07.2011
The market has fixed itself below daily Super Trend, and 4 Hour Super Trend has moved into red zone. The correction is facing a strong resistance from the 2/8 level, that’s why down-trend may continue. If the price breaks the +2/8 level, the levels at the chart will be redrawn.
06.07.2011
Yesterday the price didn’t succeed in breaking daily Super Trend. The market was above the indicator line only for few hours and then went down below it again. The sell order stop is at the level of weekly Super Trend, but the price hasn’t reached it yet. At the moment we should expect the price to continue moving downwards inside the down-trend to the -2/8 level.
05.07.2011
In case of this currency cross we have a very interesting situation. The price tried to leave an oversold area, but couldn’t pass the 0/8 level. However, the following correction was stopped by Super trend. That’s why we have reasons to suppose that the price may continue moving upwards.
