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 |
| 10 June | 4-hourly chart for EURUSD. Correction took place, and it was a very good. There is a breakthrough of support area just below the (5/8) level. It was the main hope for the bulls to continue upward trend. Now that hope is broken to smithereens by sellers efforts. And in order to create a new base for | 4-hourly chart for GBPUSD. After the breakdown of the intermediate support level (6/8), the pair followed the script with a reduction in the main support / resistance level (4/8). It is the strongest level in the system, so the bears are unlikely to break this level immediately. From the current lev | 4-hourly chart for USD/JPY. (0/8) level target was tested. There was a pullback from this level. At the current moment this currency pair is going to retest this (0/8) trading zone. It is difficult to say that it would be broken, because according to whole picture the bears are not very active now. |
| 09 June | |||
| 08 June | |||
| 07 June |
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