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Murrey Math Lines 13.03.2015 (EUR/USD, GBP/USD)

Analysis for March 13th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is being corrected. Possibly, in the nearest future the price may test the daily Super Trend. If the pair breaks it and later is able to stay below the 3/8 level, the market may continue falling.

At the H1 chart, Super Trends have formed “bullish cross”, which means that the current correction may yet continue. Probably, Eurodollar may test the 4/8 level during Friday. If the pair rebounds from this level, the market may resume moving towards the 0/8 level.

GBP USD, “Great Britain Pound vs US Dollar”

Yesterday Pound completed its correction and continued falling; the price is supported by Super Trends. If bears don’t face resistance at the 1/8 level and break it, the market will reach the 0/8 one within the next several days.

As we can see at the H1 chart, the pair has rebounded from the 0/8 level. Earlier the price rebounded from the 2/8 level as well, and resumed falling. Possibly, the market may break the -2/8 level within the next several hours. In this case, the lines at the chart will be redrawn.

RoboForex Analytical Department

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