Murrey Math Lines 17.06.2015 (EUR/USD, NZD/USD)
17.06.2015
Analysis for June 17th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still moving inside quite a narrow trading range. Considering that earlier the pair rebounded from the 5/8 level several times, in the future the market is expected to continue towards the 3/8 level and the daily Super Trend. If these levels are broken, the price will continue falling much deeper.
At the H1 chart, Eurodollar is moving in the middle. It looks like Super Trends are going to form “bearish cross” in the nearest future. If later the price breaks the 3/8 level, the downtrend will resume.
NZD USD, “New Zealand Dollar vs US Dollar”
New Zealand Dollar has reached a new low. Bears are supported by the H4 Super Trend, from which the price rebounded earlier once again. The closest target is at the 0/8 level: after reaching it, the market may start an ascending correction.
At the H1 chart, the price is moving inside “oversold zone”. In the nearest future, the pair may start a new correction from the -1/8 level. If later the pair breaks the -2/8 level, the lines at the chart will be redrawn.
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