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Murrey Math Lines 10.02.2015 (EUR/USD, USD/JPY, EUR/GBP)

Analysis for February 10th, 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 break the 1/8 level again, bears may attempt to resume the downtrend.

USD JPY, “US Dollar vs Japanese Yen”

The pair is back to growing. It looks like Super Trends may form “bullish cross” in the nearest future. If the market is able to stay above the 5/8 level, the next target will be at the 8/8 one.

At the H1 chart, bulls are trying to stay inside “overbought zone”. Possibly, after breaking the 1/8 level, the pair may break the 2/8 one as well. In this case, the lines at the chart will be redrawn. I’m planning to move the stop losses on my orders under the local minimum as soon as the market breaks the previous maximum.

EUR GBP, “Euro vs Great Britain Pound”

The pair continues falling; bears are supported by Super Trends. Considering that earlier the price was able to stay below the 3/8 level, it may continue falling to reach the 0/8 one: after reaching it, the price may a deeper correction.

As we can see here, the price is moving in the middle of the chart. The pair has rebounded from Super Trends several times. If the market breaks the 3/8 level, it may continue falling to reach the 0/8 one.

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