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Murrey Math Lines 04.05.2015 (EUR/USD, EUR/JPY)

Analysis for May 4th, 2015

EUR USD, “Euro vs US Dollar”

The pair is still moving in the middle of the chart; bulls are supported by supported by Super Trends. Possibly, in the nearest future the price may test the 5/8 level; if it breaks this level, the market will continue growing.

At the H1 chart, the pair is being corrected between Super Trends. Probably, in the nearest future the market may test the 6/8 level: if it rebounds from this level, the pair may resume growing. If later the price is able to break the 8/8 level, it will continue growing inside “overbought zone”.

EUR JPY, “Euro vs Japanese Yen”

The pair continues growing inside the current uptrend. Considering that reverses hardly ever occur at the 6/8 level, the pair may continue moving upwards. The closest target is at the 8/8 level.

As we can see at the H1 chart, the pair is trying to break the 8/8 level. In general, the current correction may yet continue during Monday, but later the pair is expected to stay above Super Trends. In this case, I’m planning to increase my long position.

RoboForex Analytical Department

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