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Murrey Math Lines 18.03.2016 (EUR/USD, NZD/JPY)

Analysis for March 18th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is consolidating near the 5/8 level. If the price rebounds from this level downwards during the day, the pair may start a new descending correction. In this case, the first target for bears will be at the 4/8 level.

At the H1 chart, Eurodollar is moving inside “overbought zone” and supported by Super Trends. If the pair rebounds from the 2/8 level in the nearest future, it may resume moving downwards. However, if the market breaks this level after all, the lines at the chart will be redrawn and the price will continue growing.

NZD JPY, “New Zealand Dollar vs Japanese Yen”

Yesterday the price was able to stay above the 5/8 level, which means that bulls may return to the market. Possibly, quite soon, Super Trends may form “bullish cross” and then the market may break this month’s high.

Considering that the pair is moving in the middle of the H1 chart, the closest target is at the 5/8 level. Earlier, Super Trends formed “bullish cross”. In the nearest future, the market may break its local highs.

RoboForex Analytical Department

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