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Murrey Math Lines 18.02.2015 (EUR/USD, EUR/GBP, GBP/JPY)

Analysis for February 18th, 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 market is testing the 7/8 level once again, which means that it may resume falling. After a long correction, Super Trends formed “bullish cross”. I’m planning to increase my short position as soon as the pair is able to stay below the 4/8 level.




EUR GBP, “Euro vs Great Britain Pound”

The pair is trying to break the 1/8 level once again; bears are still supported by Super Trends. Considering that earlier the price was able to stay below the 3/8 level, later it may break the 1/8 level and then reach the 0/8 one.



The pair is moving in the bottom of the H1 chart; the downtrend is still supported by Super Trends. If the pair is able to stay below the 0/8 level, it may continue falling towards the -2/8 one.




GBP JPY, “Great Britain Pound vs Japanese Yen”

The price is back to growing. If the pair is able to stay above the 5/8 level, it may continue growing to reach the 8/8 one and then start a more serious correction.



As we can see at the H1 chart, Super Trends have formed “bullish cross”. If the market is able to stay above the 7/8 level, it may continue growing towards the 8/8 one. In case this level is also broken, the pair will continue moving upwards inside “overbought zone”.



 
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