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Murrey Math Lines 14.10.2016 (EUR/USD, NZD/USD)

Analysis for October 14th, 2016

EUR USD, “Euro vs US Dollar”

Yesterday, the EUR/USD pair rebounded from the 4/8 level and started an ascending correction. The price also rebounded from the H4 Super Trend, but may test it in the nearest future once again. If it rebounds from this level, the market may resume its descending movement towards the 3/8 one.

At the H1 chart, the pair rebounded from the 6/8 level and started falling. However, in the nearest future, the price may reach a new local high, but later it is expected to continue moving downwards.

NZD USD, “New Zealand Dollar vs US Dollar”

The NZD/USD pair is also being corrected. In the nearest future, the market may continue growing towards the daily Super Trend. If later the price rebounds from it, bears may try to start a new decline. In this case, the closest target will be at the -2/8 level.

At the H1 chart, the pair is moving between Super Trends. In the nearest future, the price may test the 2/8 level. If later the price stays below this level, it may start a new decline.

RoboForex Analytical Department

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