Murrey Math Lines 11.09.2014 (EUR/USD, NZD/USD)
11.09.2014
Analysis for September 11th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is still consolidating inside “oversold zone”; the price is supported by the H4 Super Trend. The target for the next several days is still is at the -2/8 level, where I’m planning to close several of my sell orders.
At the H1 chart, the price is moving in the middle. The pair is likely to test the 4/8 level once again during the next several hours: in case it rebounds from this level, the market may start a new descending movement.
NZD USD, “New Zealand Dollar vs US Dollar”
New Zealand Dollar reached a new local low yesterday. The price has reached the 2/8 level, which, in the near term may become a starting point of a new correction. The main target is at the 0/8 level.
At the H1 chart, the pair is trying to rebound from the 0/8 level. If later bears are supported by the H1 Super Trend again, the market may break the 0/8 level and continue falling inside “oversold zone”.
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