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Murrey Math Lines 09.06.2015 (EUR/USD, EUR/JPY)

Analysis for June 9th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is moving upwards again. Probably, the current ascending correction may continue towards the 7/8 level. I opened a buy order after the price was able to stay above the daily Super Trend. I’m planning to move the stop loss to breakeven to decrease the risks as soon as the pair breaks the maximum.



As we can see at the H1 chart, yesterday Super Trends formed “bullish cross”. Possibly, the pair may break the 5/8 level in the nearest future and stay above it. In this case, the market will make a short-term ascending movement towards the 8/8 level.




EUR JPY, “Euro vs Japanese Yen”

The pair us trying to stay above the 5/8 level. Bulls are supported by the H4 Super Trend, which the pair may rebound from. I’m holding one buy order, but later plan to increase my long position.



At the H1 chart, the pair reached the 6/8 level and started a new correction. Considering that reverses hardly ever occur here, the market is expected to continue growing. The closest target is at the 8/8 level. After reaching it, the pair may start a descending correction.



 
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