Murrey Math Lines 31.07.2015 (EUR/USD, NZD/USD)
31.07.2015
Analysis for July 31st, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is resuming its decline. It’s very likely that Super Trends will form “bearish cross” soon. Considering that the price is already moving below the 3/8 level, the next target will be at the 0/8 one. If the market breaks the latter level, it may continue falling much lower.
At the H1 chart, the price is trying to stay below the 3/8 level. If the pair breaks Super Trends downwards again, it may resume falling. In this case, the market is expected to break the 0/8 level and then continue falling inside “oversold zone”.
NZD USD, “New Zealand Dollar vs US Dollar”
As we can see at the H4 chart, Super Trends have formed “bearish cross”. I’m holding several sell orders with the stop loss above the local high. The closest target is at the 4/8 level: after reaching it, the price may start a local ascending correction.
At the H1 chart, the market may rebound from the -2/8 level and the lines at the chart will be redrawn. Earlier Super Trends formed “bearish cross”. Later, during the correction, I’m planning to open an additional sell order.
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