Murrey Math Lines 11.06.2015 (EUR/USD, NZD/USD)
11.06.2015
Analysis for June 11th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is trying to rebound from the 5/8 level. I’ve already moved the stop loss on my yesterday’s sell order to breakeven. If the price breaks the H4 Super Trend and stays below it, the market will continue moving downwards.
As we can see at the H1 chart, the current correction has faced resistance from the 6/8 level. Consequently, the closest target is at the 2/8 level: if the price breaks this level, it may continue falling towards the lower ones. Probably, Super Trends may form “bearish cross” quite soon.
NZD USD, “New Zealand Dollar vs US Dollar”
New Zealand Dollar has started falling and made s strong descending movement. Earlier, the pair rebounded from the 3/8 level, the stop loss on my yesterday’s sell order is already in breakeven. The main target is still at the 0/8 level: after reaching it, the market may start an ascending correction.
At the H1 chart, the price is moving at the bottom. Super Trends have formed “bearish cross”, which means that the pair may continue falling. Possibly, the market may break the 0/8 level during the day and then continue falling towards the lower border of “oversold zone”.
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