Murrey Math Lines 21.04.2016 (EUR/USD, GBP/JPY)
21.04.2016
Analysis for April 21st, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is moving between Super Trends. If later the pair breaks the daily Super Trend, the market will continue falling towards the 4/8 level. If this level is broken as well, bears will continue pushing the price much deeper.
At the H1 chart, Super Trends formed “bearish cross”. Later, after reaching the 2/8 level, Eurodollar started a correction, which may finish during the day. Consequently, in the nearest future the market may resume falling to reach the 0/8 level.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The price has been able to stay above Super Trends. Earlier, the pair rebounded from the 1/8 level, thus reversing the trend upwards. In the nearest future, the market may continue growing; the closest target for bulls is at the 7/8 level.
At the H1 chart, the current ascending movement is supported by the Moving Averages. Earlier, the pair managed to stay above the 5/8 level, which means that the market may continue moving upwards to reach the 8/8 one.
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