Murrey Math Lines 17.02.2017 (EUR/USD, NZD/USD)

EUR USD, “Euro vs US Dollar”

After failing to fix below the 5/8 level, the EUR/USD pair started the current ascending correction. It’s highly likely that in the nearest future the market may test the 7/8 level once more. If the price rebounds from this level again, the pair may resume moving downwards.

At the H1 chart, the pair is consolidating between Super Trends, During the day, the price may test the 4/8 level. If later the market rebounds from this level, the pair may resume moving upwards and break the high.

NZD USD, “New Zealand Dollar vs US Dollar”

The NZD/USD pair is still being corrected. In the nearest future, the market may test the 7/8 level. If later the price rebounds from this level, it may resume moving downwards to reach the 4/8 one.

At the H1 chart, the pair is moving in the middle. If the price rebounds from the 3/8 level, the ascending correction may continue towards the 6/8 one. After reaching the latter level, the market may resume its decline.

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