Murrey Math Lines 13.05.2015 (EUR/USD, GBP/JPY)
13.05.2015
Analysis for May 13th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving above Super Trends, so one may go back to buying. The closest target is at the 6/8 level: if the price breaks this level, it will continue moving upwards. I’m planning to move the stop loss to breakeven when the pair breaks its local high.
As we can see at the H1 chart, the pair is moving in the middle. Yesterday, Super Trends formed “bullish cross”. If the price is able to stay above the 5/8 level, it will continue growing.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The pair has been able to stay above the 8/8 level, which means that it may continue growing inside “overbought zone”. Super Trends provide support. Later, the price may start a new local correction from the +1/8 level.
At the H1 chart, the pair is attempting to rebound from Super Trends. If later the market breaks the +2/8 level, the lines at the chart will be redrawn. I’m planning to move the stop loss on my orders after the market.
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