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Murrey Math Lines 03.02.2016 (EUR/USD, NZD/JPY)

Analysis for February 3rd, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar continues moving sideways. It’s highly likely that the pair may test the 7/8 level one more time. If the market rebounds from this level again, it may resume its descending movement.



The lines at the H4 and H1 charts are completely the same. Yesterday, Super Trends formed “bullish cross”, which means that the current ascending correction may continue. On Wednesday, the price may break yesterday’s high.




NZD JPY, “New Zealand Dollar vs Japanese Yen”

The price is moving above the H4 Super Trend again. If the pair is able to stay above the 2/8 level, it may continue growing towards the 4/8 one. If later the market rebounds from it, the price may start a new descending correction.



At the H1 chart, Super Trends have formed “bullish cross”. 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.



 
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