Murrey Math Lines 27.03.2015 (EUR/USD, GBP/USD)
27.03.2015
Analysis for March 27th, 2015
EUR USD, “Euro vs US Dollar”
The market has rebounded from the 6/8 level once again and been able to stay below the H4 Super Trend. During a local correction, I opened another sell order and plan to increase my positions after the pair breaks the 4/8 level.
As we can see at the H1 chart, Super Trends have formed “bearish cross”. Possibly, in the nearest future the price may break the 0/8 level and continue falling inside “oversold zone”. In this case, the closest target will be at the -2/8 level.
GBP USD, “Great Britain Pound vs US Dollar”
Pound is attempting to leave its consolidation channel. Earlier the price rebounded from the 4/8 level and right now is moving below Super Trends. If the market is able to stay below the 2/8 level, it may continue falling to break the 0/8 one.
The pair is moving in the middle of the H1 chart below the 4/8 level. It bears are able to break the 3/8 level and keep the price below it, the next target will be at the 0/8 one. I’m planning to move the stop loss to breakeven when the pair breaks a local low.
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