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Murrey Math Lines 06.06.2016 (EUR/USD, NZD/JPY)

Analysis for June 6th, 2016

EUR USD, “Euro vs US Dollar”

Bulls made a real breakthrough by smashing the 4/8 level. After that, Super Trends formed “bullish cross”, which means that the pair may start a new ascending correction. Consequently, after a short pause, the market may resume growing towards the 6/8 level.



At the H1 chart, Eurodollar reached the 6/8 level and started a new local correction with a possible target at the H1 Super Trend. If the price rebounds from it, the market may reach the 7/8 level in the nearest future.




NZD JPY, “New Zealand Dollar vs Japanese Yen”

The pair rebounded from the daily Super Trend and right now is moving under the 4/8 level. Considering that the price is now below the 3/8 level, it may yet continue moving downwards. Consequently, during the next several days the market may reach the 1/8 level.



At the H1 chart, the pair rebounded from the 1/8 level and started falling. Later, Super Trends formed “bearish cross”. As soon as the market is able to stay below the 5/8 level, the price will continue moving downwards.



 
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