Murrey Levels - this type of market analysis has been demanded by many traders for a long time. Whether you trade shares, currency or futures, Murray Levels perfectly apply to all instruments. Main principle of ML is that all markets move in a similar manner (which means that behavior of crowd determines all markets and thus they have similar characteristics).
Murray Levels are based on discoveries made by William Gann in the first half of XX century. As William Gann performed as an efficient trader, his technique seemed complex and intricate. But Mr. Murray simplified Gann's technique: he created a special geometrical system that describes price movement over time.
| 2016 | EURUSD | GBPUSD | USDJPY |
| 05 August | Four-hours chart of EURUSD. The pair continued to decline. It has stopped only at (2/8). The price rebounded off this level, so from it we can expect an upward rollback to the nearest resistance level. Today's resistance is the area formed by the of daily and weekly SuperTrend lines. Upon reaching | Four-hours chart of GBPUSD. As we expected, the pair collapsed after bulls had failed to develop their success and has stuck within the narrow flat. However, so far local levels of support are held by buyers, so there are chances of resumption of the upward movement. The main option is continuati | The four-hours chart of USDJPY . The pair could not break the intermediate resistance level (2/8) and bounced off it. So, growth to the main support and resistance level (4/8), which we expected yesterday is under a big question. To date, continuation of the downward movement to the main support |
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