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Murrey Math Lines 11.03.2016 (EUR/USD, NZD/USD)

Analysis for March 11th, 2016

EUR USD, “Euro vs US Dollar”

After rebounding from the 1/8 level twice, Eurodollar started a fast growth. However, the price hasn’t been able to break the 4/8 level, that’s why bears may try to resume falling. It’s highly likely that the pair may reach the 2/8 level on Friday.

At the H1 chart, the pair has rebounded from the 8/8 level. If later the price is able to stay below the H4 Super Trend, it may reach the 4/8 level. After breaking this level, the market may resume its decline towards the 0/8 one.

NZD USD, “New Zealand Dollar vs US Dollar”

New Zealand Dollar hasn’t been able to stay above the 7/8 level and right now is trying to resume falling. Possibly, in the nearest future the pair may test the 3/8 level. If the market breaks it, the price may continue falling to reach lower levels.

At the H1 chart, the pair is moving in the middle and supported by Super Trends, which formed “bearish cross” earlier. The market may continue moving towards the local low during the next several days.

RoboForex Analytical Department

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