Murray Math Lines 08.09.2016
EUR USD "Euro vs. US Dollar"
EUR/USD holds above the Super Trend lines which have already formed a “bullish cross”. In addition, we see a very important level 5/8
, which, if broken, can force the pair to resume declining. But if the price breaks through the 5/8
level and holds above it, the market can sharply rise towards 6/8
On 1-H chart the pair is trading in the upper part of the group of levels and above the +1/8
level. Therefore, if +2/8
level is broken in the near-term, the Murrey analysis will be redrawn. But if the market rebounds from this level, we might see a descending correction start.
NZD JPY "New Zealand Dollar vs. Japanese Yen"
The cross pair has rebounded from 8/8
and held above the Super Trend lines. Accordingly, I have an open long position with a target of +2/8
. If the price rebounds from this level, we might see a bearish correction start.
On 1-H chart the Super Trend lines have formed a “bullish cross”. As price holds above 5/8
level and is trading above 6/8
, it is possible that it resumes rising and reaches 8/8