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.
| 2015 | EURUSD | GBPUSD | USDJPY |
| 06 May | 4 hours’ chart of EURUSD. The pair continues its correctional downward movement but it has not reached (2/8) and returned to move upwards. Currently, it is doing a strength test of (4/8). It is the strongest level in the system but as a rule there are more chances to pull through this level for the | 4 hours’ chart of GBPUSD. The pair did not manage to get consolidated below the main level of resistance and support (4/8). We have seen a rather good bounce which confirms that downward correction is finished and ascending trend is renewed. The first target for growth is the intermediate level of | 4 hours’ chart of USDJPY. The pair tried to get consolidated and pull through the main level of resistance/support (4/8). But this attempt was not a lucky one. We see a rather strong bounce of the price which tells about its further decline. Currently the price is based in local area of support for |
| 05 May |
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