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Murrey Math Lines 02.02.2015 (EUR/USD, NZD/USD)

Analysis for February 2nd, 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”

New Zealand Dollar is still being corrected inside “oversold zone”. Earlier Super Trends formed “bearish cross”, which is still in effect. Considering that the market has broken the 0/8 level, later it is expected to continue falling to reach the -2/8 one and break it.

The lines at the H4 and H1 charts are completely the same. Possibly, after testing the H1 Super Trend one more time, the pair may break its local minimum during the day. I’m planning to open another sell order after the pair stays below the H1 Super Trend.

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