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.
Brent may correct down to 7/8, while the S&P 500 index is approaching the “oversold area”.
USDCHF may fall towards the support at 2/8, while XAUUSD is expected to break the resistance and continue growing to reach 8/8.
USDJPY may grow and reach 7/8, while USDCAD is trading within the “oversold area”.
Both AUDUSD and NZDUSD are heading towards 4/8.
The next downside target in EURUSD is 5/8; in the case of GBPUSD, the price is moving within the “overbought area”.
Brent is heading towards the “overbought area”, while the S&P 500 index may continue trading downwards and reach 1/8.
USDCHF is heading towards 4/8, while XAUUSD may break the resistance at 5/8 and continue growing.
USDJPY may continue the correction, while USDCAD is heading towards the “oversold area”.