Murrey Math Lines 06.08.2015 (EUR/USD, NZD/USD)
06.08.2015
Analysis for August 6th, 2015
EUR USD, “Euro vs US Dollar”
During the correction, Eurodollar was supported by Super Trends, which earlier formed “bearish cross”. The closest target is at the 0/8 level, which may later become the starting point of an ascending pullback.
At the H1 chart, the price was supported by the 2/8 level, which means that it may resume falling. It’s highly likely that the pair may break the 0/8 level quite soon 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 0/8 level: after reaching it, the price may start a local ascending correction.
At the H1 chart, the market is being corrected between Super Trends. If the price breaks the 2/8 level, it may continue falling. After breaking the 0/8 level, the pair is expected to move downwards and reach the -2/8 one.
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