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Murrey Math Lines 06.04.2015 (EUR/USD, GBP/JPY)

Analysis for April 6th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is testing the 6/8 level again. Considering that earlier the price faced resistance from the 2/8 level, it may rebound from the 6/8 one as well. If the pair is able to stay below the H4 Super Trend, it will confirm the scenario, according to which the pair is expected to resume moving downwards.



At the H1 chart, the pair is moving in the middle. If the price breaks the 3/8 level downwards, it may start a new descending movement.  I’m planning to open one more sell order as soon as Super Trends form “bearish cross”.




GBP JPY, “Great Britain Pound vs Japanese Yen”

The price is still consolidating and supported by the H4 Super Trend. If the pair rebounds from it once again, it may resume falling. The closest target is at the 0/8 level: after reaching it, the market may start a more serious correction.



At the H1 chart, the pair is moving between Super Trends, which are still influenced by “bearish cross”. In the nearest future, the market may move downwards to reach the 0/8 level and even break it. In this case, the price will fall much deeper.



 
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