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Murrey Math Lines 18.05.2015 (EUR/USD, EUR/GBP)

Analysis for May 18th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is being corrected below the 6/8 level and supported by the H4 Super Trend. If the price rebounds from it, the pair may resume growing. The closest target is at the 8/8 level.

As we can see at the H1 chart, the pair is moving in the middle. If later the market is able to stay above the 5/8 level, it may start a new ascending movement. I’m planning to move the stop loss to breakeven when the price breaks the maximum.

EUR GBP, “Euro vs Great Britain Pound”

The pair is being corrected between Super Trends, which are still influenced by “bearish cross”. If the market is able to stay below the 3/8 level, the price will resume falling.

The lines at the H4 and H1 charts are completely the same. If the price is able to stay below Super Trends, it may be a signal for a new descending movement. As soon as it happens, I’m planning to increase my short position with the target at the -2/8 level.

RoboForex Analytical Department

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