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Murrey Math Lines 02.02.2016 (EUR/USD, NZD/JPY)

Analysis for February 2nd, 2016

EUR USD, “Euro vs US Dollar”

The pair is still consolidating. Earlier, the market wasn’t able to stay above the 5/8 level. If later the price breaks Super Trends downwards, Eurodollar may continue falling towards the 0/8 level.

At the H1 chart, the pair is moving in the middle. Earlier, Eurodollar rebounded from the 7/8 level and started moving downwards quite fast. If the market is able to break Super Trends and they form “bearish cross”, the price will resume its decline.

NZD JPY, “New Zealand Dollar vs Japanese Yen”

After rebounding from the 0/8 level, the pair has been able to stay above the 2/8 one and Super trends have formed “bullish cross”. In the nearest future, the market may continue moving upwards to reach the 4/8 level.

At the H1 chart, the pair is being corrected between Super Trends. If later the price stays above the 5/8 level, it may continue growing. In this case, the target will be at the 8/8 level.

RoboForex Analytical Department

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