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Murrey Math Lines 10.02.2016 (EUR/USD, GBP/JPY)

Analysis for February 10th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is being corrected above the 8/8 level inside “overbought zone”; the current ascending movement is supported by Super Trends. In the nearest future, the market may continue growing and break the 2/8 level. In this case, the lines at the chart will be redrawn.



The lines at the H4 and H1 charts are completely the same. After the price stays above the H1 Super Trend, the market will continue moving upwards. It’s highly likely that Eurodollar may reach a new high during the day.




GBP JPY, “Great Britain Pound vs Japanese Yen”

The bearish tendency continues. Earlier, Super Trends formed “bearish cross”. If the market breaks the 5/8 level and stays below it, it may continue its descending movement towards the 4/8 one.



At the H1 chart, the current decline is supported by Super Trends. The price may resume falling towards the 0/8 level as soon as the market breaks the H1 Super Trends downwards.



 
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