Murray levels analysis on 26 February 2016
EUR USD "Euro to US dollar"
The Euro Dollar retreated from the four-hour SuperTrend line, indicating a possible resumption of the market decline. It is likely that soon there will be a breakdown of the local minimum. The immediate target appears to be the 0/8
On the hourly chart the SuperTrend lines can again form a "bearish cross". Most likely, in the short term the market will try again to break the 0/8
mark and gain a foothold in the "oversold" zone. In case of breaking -2/8
, the build-up of murray levels will be updated.
NZD JPY "New Zealand dollar to Japanese yen"
The Cross abruptly broke all SuperTrend lines on the four-hour chart. As the price was fixed above the level of 5/8
, a further advance of the prices up towards the 8/8
level is possible, which later may start a correction.
On the hourly chart, the market is trading in the upper part of building of levels. Support for the movement of prices is from the SuperTrend lines. We do not rule out that on Friday a break of the 8/8
mark will follow and a further increase in price in the "overbought" zone.