Murrey Math Lines 23.01.2015 (EUR/USD, NZD/USD)

23.01.2015

Analysis for January 23rd, 2015

EUR USD, “Euro vs US Dollar”

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



The lines at the H1 chart have been redrawn. Possibly, the pair may reach the 4/8 level during the day and then start a new correction. That’s why I’ve placed the take profit exactly at this level.




NZD USD, “New Zealand Dollar vs US Dollar”

New Zealand Dollar reaches new low every day. Earlier Super Trends formed “bearish cross”. Possibly, the price may be able to stay below the 3/8 level during the day, 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 opened another sell order when the pair was rebounding from Super Trends.



 
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