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Murrey Math Lines 18.01.2016 (EUR/USD, EUR/JPY)

Analysis for January 18th, 2016

EUR USD, “Euro vs US Dollar”

In case of Eurodollar, the flat continues and the wave structure is becoming more and more complicated. Earlier, the pair was supported by the 2/8 level (the same as at the daily chart). In the nearest future, the market may try to update its local low.



At the H1 chart, Eurodollar is moving between Super Trends. If the price is able to stay below them, it may continue moving downwards. The closest target is at the 3/8 level. If the market breaks it, the pair will continue falling much deeper.




EUR JPY, “Euro vs Japanese Yen”

As we can see at the H4 chart, the pair has been able to stay inside “oversold zone”. During this week, the market may fall towards the -2/8 level. After reaching this level, the pair may start an ascending correction.



At the H1 chart, the price is being corrected as well. Earlier, Super Trends formed “bearish cross”. If later the market is able to stay below the 3/8 level, it may continue moving downwards. The closest target is at the 0/8 level.



 
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