Murray levels analysis on 25 February 2016
EUR USD "Euro to US dollar"
The Eurodollar went into a correction and is trying to establish a retreat from the SuperTrend lines, which previously formed a "bearish cross". During the day, perhaps the resumption of decline to around 1/8
. In the case of rebound from this level will probably start upward correction.
On the hourly chart the market did not manage to gain a foothold in the "oversold zone" below 0/8
at the first attempt. Subsequently, the price formed a retreat from the 2/8
level, which indicates the possibility of the resumption of decline in prices. The immediate target stands at the -2/8
line, the breakdown of which will lead to a renewal of build up of murray levels.
GBP USD "Pound to US dollar"
Earlier this week, SuperTrend lines formed a "bearish cross", which led to a significant reduction in prices. After the end of the current local correction, a resumption of decline is likely. The immediate goal appears to be the 0/8
Building of levels on both charts is the same. It is very likely that the price in the next few hours will be able to push off the line and resume the SuperTrend decline. Accordingly, soon a breakdown of the minimum and movement to the 0/8
mark is possible.