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Murrey Math Lines 03.02.2015 (EUR/USD, NZD/USD)

Analysis for February 3rd, 2015

EUR USD, “Euro vs US Dollar”

As we can see at the H4 chart, Eurodollar is still being corrected between Super Trends. Possibly, after completing this local correction, the price may try to stay below the 2/8 level. This attempt may indicate that the market is going to resume falling towards the 0/8 one.



At the H1 chart, the price is moving right in the middle. Probably, in the nearest future the price may break the 4/8 level and resume moving downwards. I’m planning to open one more sell order after the market stays below Super Trends and they form “bearish cross”.




NZD USD, “New Zealand Dollar vs US Dollar”

The lines at the H4 chart have been redrawn; Super Trends are still influenced by “bearish cross”. If the market is able to stay below the 3/8 level, it may continue falling.



As we can see at the H1 chart, the price has rebounded from the 4/8 level. Possibly, the pair may reach several new lows during the day. I’m planning to open another sell order during a local correction.



 
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