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Murrey Math Lines 29.05.2015 (EUR/USD, GBP/USD)

Analysis for May 29th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is being corrected between Super Trends. If later the price rebounds from the 2/8 level, it may resume falling. In this case, the target will be at the 0/8 level. After reaching it, the market may start a deeper ascending correction.



At the H1 chart, the price is moving in the middle. If later the market is able to stay below the 3/8 level, it will continue falling towards the 0/8 one, where I placed the take profit on my sell order.




GBP USD, “Great Britain Pound vs US Dollar”

In case of Pound, the price is also still moving downwards. If it is able to stay below the weekly Super Trend and the 5/8 level, the market will start a more serious descending movement. The closest target is at the 4/8 level. If the pair breaks this level, it will continue falling much deeper.



At the H1 chart, the pair is trying to stay below the 3/8 level; bears are supported by the H1 Super Trend. If the pair breaks the minimum in the nearest future, I’ll move the stop losses on bot of my orders to the local maximum.



 
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