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Murrey Math Lines 19.06.2015 (EUR/USD, EUR/JPY)

Analysis for June 19th, 2015

EUR USD, “Euro vs US Dollar”

The price is trying to stay above the 5/8 level. If it succeeds, the market will continue growing. In this case, the closest target will be at the 7/8 level; if the market rebounds from it, the pair may start a descending correction.

As we can see at the H1 chart, the price has rebounded from the 0/8 level twice. Super Trends are still influenced by “bullish cross”. If the pair is able to stay above the 3/8 level in the nearest future, it may continue growing towards the 5/8 one.

EUR JPY, “Euro vs Japanese Yen”

As we can see at the H4 chart, the pair has been able to stay above the 5/8 level and started consolidating. The target for bulls is at the 8/8 level. However, if later the price faces resistance from the 7/8 level, the market may start a new correction from this level.

At the H1 chart, the market is moving in the middle. After rebounding from the 8/8 level, the price hasn’t been able to break the 6/8 one, which means that it may resume moving upwards. Probably, in the nearest future the price may break the 8/8 level and continue growing inside “overbought zone”.

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