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Murrey Math Lines 29.06.2015 (EUR/USD, NZD/USD)

Analysis for June 29th, 2015

EUR USD, “Euro vs US Dollar”

The market was opened with a strong gap down. I’m still holding two sell orders, which I opened last week. Super Trends have formed “bearish cross”, which means that the pair may continue moving downwards. The closest target is at the 0/8 level.

As we can see at the H1 chart, the price has reached the 0/8 level and then started an ascending correction. Probably, bears may be supported by Super Trends: if later the price rebounds from them, the market will resume falling.

NZD USD, “New Zealand Dollar vs US Dollar”

New Zealand Dollar is trying to break the 0/8 level and enter “oversold zone”. Most likely, the pair will continue falling towards the -2/8 level during the next several days. If this level is broken, the lines at the chart will be redrawn.

As we can see at the H1 chart, the market’s first attempt to stay below the -1/8 level has failed. Probably, the market may test Super Trends again during the day: if it rebounds from them, the market may reach a new local low.

RoboForex Analytical Department

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