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Murrey Math Lines 02.03.2015 (EUR/USD, AUD/USD)

Analysis for March 2nd, 2015

EUR USD, “Euro vs US Dollar”

Euro is trying to continue its descending movement, which it started last week. The price has broken the 4/8 level, and if later bears are able to stay below the 3/8 level, the market may continue falling towards the 1/8 one.



As we can see at the H1 chart, after breaking the 0/8 level, the pair is trying to stay inside “oversold zone”. During a local correction last Friday, I opened an additional sell order. In the future, the price may break the -2/8 level. In this case, the lines at the chart will be redrawn.




AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has broken the 0/8 level and right now is moving inside “oversold zone”. Super Trends are still influenced by “bearish cross”. In the near term, the market may continue falling towards the -2/8 level and even break it.



At the H1 chart, the pair is attempting to stay below the 3/8 level. If bears succeed, the price will continue falling towards the 0/8 level. During a correction, I’ve opened another sell order.



 
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