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Murrey Math Lines 18.02.2016 (EUR/USD, GBP/JPY)

Analysis for February 18th, 2016

EUR USD, “Euro vs US Dollar”

At the H4 chart, Eurodollar is moving between Super Trends. If later the price breaks the 3/8 level and stays below it, the market may continue falling. However, if the pair stays above the 4/8 level, it may resume moving upwards.



At the H1 chart, the current decline is supported by Super Trends, which earlier formed “bearish cross”. It’s highly likely that in the nearest future the price may resume falling and break yesterday’s low. The closest target is at the 0/8 level.




GBP JPY, “Great Britain Pound vs Japanese Yen”

The pair hasn’t been able to stay below the 0/8 level and right now is being corrected. The closest target for bulls is at the 2/8 level and the daily Super Trend. After the price is able to stay above the H4 Super Trend, the market will resume its growth.



The lines at the H4 and H1 charts are completely the same. The pair has rebounded from the 0/8 level one more time, which means that it may resume its growth. It looks like the market may try to stay above the 1/8 level during the day.



 
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