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Murrey Math Lines 17.11.2015 (EUR/USD, NZD/USD)

Analysis for November 17th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has been able to stay inside “oversold zone” under the 0/8 level. During the day, the price may continue falling. if the pair breaks the -2/8 level, the lines at the chart will be redrawn.

At the H1 chart, Eurodollar is also moving at the bottom. Earlier, Super Trends formed “bearish cross”. It’s highly likely that in the nearest future the price may reach the target at the -2/8 level.

NZD USD, “New Zealand Dollar vs US Dollar”

New Zealand Dollar has stayed below the 3/8 level. During the local correction, I opened another sell order. It looks like the pair is going to resume its decline towards the closest target at the 0/8 level quite soon. If the market rebounds from this level, it may start a new correction.

At the H1 chart, the pair is moving in the middle. If the price rebounds from Super Trends, the market may start a new descending movement. The main target is at the 0/8 level.

RoboForex Analytical Department

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