Murrey Math Lines 12.09.2014 (EUR/USD, NZD/USD)
12.09.2014
Analysis for September 12th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is still consolidating below the 0/8 level. If the price breaks the H4 Super trend downwards, the downtrend may resume. The target is still is at the -2/8 level.
At the H1 chart, the price is moving in the middle. Earlier, Super Trends formed “bearish cross”. The closest target is at the 2/8 level: if the market breaks this level, it will continue falling.
NZD USD, “New Zealand Dollar vs US Dollar”
New Zealand Dollar continues falling. During a local correction, I opened another sell order. Although the main target is at the 0/8 level, I’m planning to close my orders manually if the market is unable to break the 1/8 one on the first try.
At the H1 chart, the pair is trying to break the 0/8 level and stay inside “oversold zone”. Earlier, the price rebounded from Super Trends several times. If later the market breaks the -2/8 level, the lines at the chart will be redrawn.
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