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Murrey Math Lines 08.05.2015 (EUR/USD, USD/JPY)

Analysis for May 8th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has started a new correction and right now is moving between Super Trends. Probably, in the nearest future the pair may test the 3/8 level. If the price rebounds from this level, it may resume moving upwards.



The lines at the H4 and H1 charts are completely the same. Yesterday Super Trends formed “bearish cross”. I’m staying out if the market because the current correction may yet continue. If the price rebounds from the 3/8 level and then breaks Super Trends, I’m planning to open a long position.




USD JPY, “US Dollar vs Japanese Yen”

Yesterday, the pair rebounded from the 1/8 level. If later the price breaks the 4/8 and 5/8 levels, the next target will be at the 8/8 one. Most likely, Super Trends will form “bullish cross” during the next several hours.



At the H1 chart, the pair is moving above the 5/8 level, which means that it may continue growing. Super Trends have formed “bullish cross”. Possibly, later the market may break the 8/8 level and continue growing inside “overbought zone”.



 
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