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Murrey Math Lines 15.05.2015 (EUR/USD, GBP/JPY)

Analysis for May 15th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has been able to stay above the 5/8 level and right now is still being corrected. If the price is able to rebound from this level, the pair may continue growing. The closest target for bulls is at the 7/8 level.



As we can see at the H1 chart, the pair has been supported by the 6/8 level, which means that and it may resume moving upwards. Earlier, Super Trends formed “bullish cross”. Probably, in the nearest future the price may break the 8/8 level and continue growing inside “overbought zone”.




GBP JPY, “Great Britain Pound vs Japanese Yen”

The pair is still moving above the 8/8 level. Possibly, in the nearest future the market may continue growing towards the 2/8 level. If later this level is broken, the lines at the chart will be redrawn.



At the H1 chart, the pair is being corrected close to the 1/8 level. Bulls are supported by Super Trends. During Friday, the market is expected to continue moving upwards and may even break the 2/8 level.



 
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