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Murrey Math Lines 07.06.2016 (EUR/USD, NZD/USD)

Analysis for June 7th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is trying to stay above the 5/8 level. If bulls are able to keep the price above it, the pair will continue growing. In this case, the closest target will be at the 6/8 level.



At the H1 chart, the current correction is supported by the H1 Super Trend and the 6/8 level. If later the 7/8 level doesn’t provide enough resistance, the market may reach the 8/8 one very soon.




NZD USD, “New Zealand Dollar vs US Dollar”

New Zealand Dollar continues growing as well; earlier, Super Trends formed “bullish cross”. Taking into account that the pair has already rebounded from the H4 Super Trend, the market may resume moving upwards to reach the 7/8 level.



At the H1 chart, the pair is moving under the 6/8 level. Probably, the price completed the current correction by rebounding from the 5/8 level. Consequently, in the nearest future the market may break its local high and move towards the 7/8 level.



 
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