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Murrey Math Lines 24.03.2016 (EUR/USD, NZD/USD)

Analysis for March 24th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar has rebounded from the daily Super Trend, which means that the price may start a new correction. Possibly, later the pair may test the 4/8 level. If the price rebounds from this level, the market will resume its descending movement.

At the H1 chart, Eurodollar is moving at the top. Earlier, Super Trends formed “bearish cross”. On Thursday, the pair may test the 8/8 level. If it rebounds from this level, the market will resume moving downwards.

NZD USD, “New Zealand Dollar vs US Dollar”

New Zealand Dollar hasn’t been able to break the 3/8 level yet, which means that it may start an ascending correction. If later bulls face resistance from the 4/8 level, the market may start another descending movement and break the local low.

The lines at the H4 and H1 charts are completely the same. The Stop Loss on m current order is above the 4/8 level, because if the market breaks this level, it may start a more serious ascending correction.  Moreover, other obstacles for bears are the daily and weekly Super Trends, which are at the bottom of the chart.  

RoboForex Analytical Department

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