Murrey Math Lines 11.05.2015 (EUR/USD, EUR/GBP)
11.05.2015
Analysis for May 11th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected between Super Trends. Possibly, the pair may test the daily Super Trends and 3/8 level during Monday. If the price rebounds from these levels, it may resume moving upwards.
At the H1 chart, Super Trends are influenced by “bearish cross”. Considering that the current correction has started after several rebounds from the 6/8 level, the price may face resistance from the 2/8 level, and, in this case, bulls may return to the market.
EUR GBP, “Euro vs Great Britain Pound”
The pair was very close to the 7/8 level, when the market started a fast descending movement. Later, Super trends formed “bearish cross”. Most likely, in the nearest future, the price will continue falling towards the -2/8 level.
The lines at the H4 and H1 charts are completely the same. The current descending movement is supported by Super Trends. Considering that the pair is already moving below the 3/8 level, in the future it may continue falling towards the 0/8 one.
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