Murrey Math Lines 16.06.2015 (EUR/USD, NZD/JPY)
16.06.2015
Analysis for June 16th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected. Earlier the pair rebounded from the 5/8 level twice, which means that in the future the market is expected to continue towards the 3/8 level. If this level is broken, the price will continue falling much deeper.
At the H1 chart, Eurodollar is moving in the middle. If later the price is able to stay below the 3/8 level, it will continue falling towards the 0/8 one. In the nearest future, Super Trends may form “bearish cross”.
NZD JPY, “New Zealand Dollar vs Japanese Yen”
The price is still moving sideways; bears are supported by the H4 Super Trend. If later the pair is able to break the 2/8 level and stay below it, the closest target will be at the 0/8 one.
The lines at the H4 and H1 charts are completely the same. The pair is consolidating between Super Trends. To decrease the risks, I’m planning to move the stop loss on my current order to breakeven as soon as the pair breaks its local low.
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