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Murrey Math Lines 16.02.2015 (EUR/USD, EUR/GBP, GBP/JPY)

Analysis for February 16th, 2015

EUR USD, “Euro vs US Dollar”

Euro is still consolidating between Super Trends. If the price is able to stay below the 6/8 level, it may start moving towards the 4/8 one, which is the closest target.

As we can see at the H1 chart, the pair has reached the 7/8 level and rebounded from it. Earlier, influenced by the current ascending movement, Super Trends formed “bullish cross”. I’m planning to increase my short position as soon as the pair is able to stay below the 5/8 level.

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, later is may break the 1/8 level and then reach the 0/8 one.

The pair is moving in the middle of the H1 chart; the market has rebounded from Super Trends several times. If the pair is able to stay below the 3/8 level, it may continue falling towards the 0/8 one.

GBP JPY, “Great Britain Pound vs Japanese Yen”

The price was supported by the daily Super Trend, but “stuck” inside the correction above the 5/8 level. If the pair is able to stay above this 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 be finished a local correction between Super Trends. We should note that if the price rebounds from the 7/8 level again, I’ll close the most of my orders.

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