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Murrey Math Lines 11.02.2015 (EUR/USD, USD/JPY, GBP/JPY)

Analysis for February 11th, 2015

EUR USD, “Euro vs US Dollar”

After rebounding from the daily Super Trend and the 3/8 level several times, Eurodollar is back to falling. If the price is able to stay below the 2/8 level, it may start moving towards the 0/8 one, which is the closest target.



As we can see here, the pair is supported by Super Trends and moving in the bottom of the H1 chart. If the price is able to stay below the 3/8 level, bears may attempt to resume the downtrend.




USD JPY, “US Dollar vs Japanese Yen”

The pair is back to growing. Yesterday Super Trends formed “bullish cross”. Considering that the market has already broken the 5/8 level and been able to stay above it, the pair may continue growing towards the 8/8 one.



The lines at the H1 chart have been redrawn. It looks like the pair may break the 8/8 level in the nearest future and continue growing inside “overbought zone”. I’m moving the stop losses on my buy orders after the market.




GBP JPY, “Great Britain Pound vs Japanese Yen”

The price is still moving upwards, being supported by Super Trends. If the pair is able to stay above the 5/8 level, it may continue growing to reach the 8/8 one and then start a more serious correction.



The lines at the H4 and H1 charts are completely the same. Possibly, the pair may start a short-term correction from the 6/8 level, and I may open another buy order. However, if the price rebounds from the 7/8 level fast, I’ll close the most of my orders.



 
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