Murrey Math Lines 05.01.2016 (EUR/USD, NZD/USD)
05.01.2016
Analysis for January 5th, 2016
EUR USD, “Euro vs US Dollar”
As we can see at the H4 chart, Eurodollar is getting closer to the 0/8 level. If the price rebounds from this level, it may resume its growth. However, if the market breaks this level and stays below it, the pair will continue falling towards the -2/8 one.
At the H1 chart, the pair is moving at the bottom as well; the current decline is supported by Super trends. Possibly, Eurodollar may try to test the 0/8 level during the day.
NZD USD, “New Zealand Dollar vs US Dollar”
As we can see at the H4 chart, Super Trends have formed “bearish cross”. It’s highly likely that later New Zealand Dollar may continue moving downwards. The closest target is at the 4/8 level.
At the H1 chart, the price is moving in the middle. If later the market is able to stay below the 3/8 level, it may continue falling towards the 0/8 one.
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