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Murrey Math Lines 19.02.2015 (EUR/USD, EUR/GBP, GBP/JPY)

Analysis for February 19th, 2015

EUR USD, “Euro vs US Dollar”

Euro is still consolidating between Super Trends. However, the lines at the H chart have been redrawn and right now the closest target is at the 0/8 level. If the market breaks it, it may continue falling and reach the -2/8 one.

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 testing the H4 Super Trend again. Considering that earlier the price was able to stay below the 3/8 level, later it may fall to reach the 0/8 one. If this level is broken as well, the market may continue moving downwards.

At the H1 chart, the pair is moving between Super Trends, which are still influenced by “bearish cross”. After the pair rebounds from the 5/8 level and stays below the 4/8 one, I’m planning to open one more short-term sell order with the target at the 0/8 level.

GBP JPY, “Great Britain Pound vs Japanese Yen”

The main trend is still bullish. 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.

The lines at the H1 chart have been redrawn. If the market is supported by Super Trends and later is able to stay above the 5/8 level, it may continue growing towards the 8/8 one.

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