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Murrey Math Lines 26.02.2015 (EUR/USD, EUR/GBP, GBP/JPY)

Analysis for February 26th, 2015

EUR USD, “Euro vs US Dollar”

Euro is still being corrected and supported by Super Trends. The closest target is at the 2/8 level. If the market breaks it, it may continue falling and reach the 1/8 level or the 0/8 one. Later, after the price breaks the minimum, I’m planning to move my stop losses after the market.



The pair is moving in the middle of the H1 chart. Earlier, the market rebounded from the 7/8 level three times, which means that it may resume falling. Super Trends are still influenced by “bearish cross”. I’m planning to increase my short position as soon as the pair is able to stay below the 3/8 level.




EUR GBP, “Euro vs Great Britain Pound”

The pair has broken the 0/8 level and right now is trying to stay inside “oversold zone”. The price is supported by the H4 Super Trend. Later the market is expected to test the -1/8 level.



At the H1 chart, the price is moving at the bottom. Earlier this week, Super Trends formed “bearish cross”. If later the pair breaks the -2/8 level, the lines at the chart will be redrawn.




GBP JPY, “Great Britain Pound vs Japanese Yen”

The main trend is still bullish. Considering that the pair has been 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, the pair is trying to enter “overbought zone”. If the price rebounds from Super Trends again, bulls may reach a new local high. In the near term, the market is expected to continue growing towards the 2/8 level.



 
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