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Murrey Math Lines 05.06.2015 (EUR/USD, GBP/JPY)

Analysis for June 5th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has rebounded from the 5/8 level, which means that it may start a correction. Probably, the price may try to test the 3/8 level and rebound from it upwards. In this case, I’m planning to open another buy order.



The lines at the H4 and the H1 charts are completely the same. Super Trends may form “bearish cross” during the next several hours. I’ll move the stop loss to breakeven as soon as the pair starts moving downwards.




GBP JPY, “Great Britain Pound vs Japanese Yen”

The pair continues growing towards new highs. Bulls are supported by the H4 Super Trend; the pair has already rebounded from it several times. The closest target is at the 6/8 level; after reaching it, the market may start a new correction.



At the H1 chart, the pair is moving in the middle. If later the price is able to stay above the 5/8 level, it will continue moving upwards. The first target for bulls is at the 7/8 level.



 
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