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Murrey Math Lines 19.02.2016 (EUR/USD, GBP/JPY)

Analysis for February 19th, 2016

EUR USD, “Euro vs US Dollar”

At the H4 chart, Eurodollar is moving below the daily Super Trend, which means that it may continue falling. The closest target is at the 2/8 level; if the market breaks this level, it may continue falling much deeper.



At the H1 chart, the price is supported by Super Trends. Considering that the pair is already moving under the 3/8 level, the next target will be at the 0/8 one. After reaching it, the market may start an ascending correction.




GBP JPY, “Great Britain Pound vs Japanese Yen”

The pair is moving below the 0/8 level, which means that it won’t continue growing. Probably, the price may break the -2/8 level quite soon. In this case, the lines at the chart will be redrawn.



The lines at the H4 and H1 charts are completely the same. Earlier, Super Trends formed “bearish cross”. It looks like later the market may fall to test the -2/8 level.



 
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