EUR USD "Euro vs. US Dollar"
EUR/USD holds above the Super Trend lines which have already formed a “bullish cross”. In addition, we see a very important level 5/8, which, if broken, can force the pair to resume declining. But if the price breaks through the 5/8 level and holds above it, the market can sharply rise towards 6/8.
On 1-H chart the pair is trading in the upper part of the group of levels and above the 1/8 level. Therefore, if 2/8 level is broken in the near-term, the Murrey analysis will be redrawn. But if the market rebounds from this level, we might see a descending correction start.
NZD JPY "New Zealand Dollar vs. Japanese Yen"
The cross pair has rebounded from 8/8 and held above the Super Trend lines. Accordingly, I have an open long position with a target of 2/8. If the price rebounds from this level, we might see a bearish correction start.
On 1-H chart the Super Trend lines have formed a “bullish cross”. As price holds above 5/8 level and is trading above 6/8, it is possible that it resumes rising and reaches 8/8 level.
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