Murrey Math Lines 21.01.2015 (EUR/USD, NZD/USD)

21.01.2015

Analysis for January 21st, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is still moving inside “oversold zone” below Super Trends. In the nearest future the price may reach the -2/8 level, which may become the starting point of a more serious pullback upwards.



As we can see at the H1 chart, the pair has been able to stay below the 3/8 level, which means that it may continue falling towards the 0/8 one. In addition to that, the price is supported by Super Trends: if the market rebounds from them again, the pair will resume falling.




NZD USD, “New Zealand Dollar vs US Dollar”

After rebounding from the +1/8 level, New Zealand Dollar started a fast descending movement. Earlier Super Trends formed “bearish cross”. Possibly, the price may break the 4/8 level in the nearest future, thus allowing bears to push the market deeper.



The lines at the H4 and H1 charts are completely the same. Possibly, the pair may break its local minimum during the day. I’m planning to open one more sell order when the pair rebounds from Super Trends.



 
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