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Murrey Math Lines 03.07.2015 (EUR/USD, NZD/USD)

Analysis for July 3rd, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is trying to stay below the 3/8 level and continue moving downwards. Earlier, Super Trends formed “bearish cross”. The closest target is at the 0/8 level. After reaching it, the pair may start an ascending correction.

As we can see at the H1 chart, the price has been supported by the 6/8 level. Super Trends also provide support. In the nearest future, the pair may break its local low and continue falling towards the 3/8 level.

NZD USD, “New Zealand Dollar vs US Dollar”

At the H4 chart, New Zealand Dollar is moving inside “oversold zone”. After finishing the current correction, the pair may continue falling. If the market breaks the -2/8 level, the lines at the chart will be redrawn.

At the H1 chart, the market is moving between Super Trends. During the day, the local correction may continue, but later the pair is expected to resume falling. The closest target is at the 3/8 level. If the price breaks this level, it will continue falling much deeper.

RoboForex Analytical Department

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