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Murrey Math Lines 23.03.2015 (EUR/USD, GBP/JPY)

Analysis for March 23rd, 2015

EUR USD, “Euro vs US Dollar”

The price is still consolidating. Possibly, the market may try to break the maximum again. If later the pair is able to stay below Super Trends and the 4/8 level, Eurodollar will resume moving downwards.



If the pair is able to stay below the 5/8 level at the H1 chart, the downtrend may resume. I’m planning to open another sell order when the price breaks Super Trends.




GBP JPY, “Great Britain Pound vs Japanese Yen”

The price has rebounded from the 0/8 level three times, which means that it may start a correction. If the pair is able to rebounds from the H4 Super Trend, the market may make, at least, a short-term ascending movement towards the 4/8 level.



At the H1 chart, the pair is moving between Super Trends, which earlier formed “bullish cross”. Probably, the market may start growing quite soon. I’m planning to move the stop loss on my sell order to breakeven when the price breaks the 1/8 level.



 
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