Murrey Math Lines 16.02.2016 (EUR/USD, GBP/JPY)
16.02.2016
Analysis for February 16th, 2016
EUR USD, “Euro vs US Dollar”
At the H4 chart, Eurodollar is moving between Super Trends. If the price breaks the 3/8 level and stays below it, the current descending correction may become deeper. In this case, the target will be at the 2/8 level.
At the H1 chart, Super Trends have formed “bearish cross”. Right now, the price is trying to stay under the 3/8 level. If it succeeds, the market will continue falling much deeper towards the 0/8 level.
GBP JPY, “Great Britain Pound vs Japanese Yen”
The pair hasn’t been able to stay below the 4/8 level and right now is attempting to stay above the 5/8 one. Consequently, the pair may start an ascending correction. The closest target for bull is at the 6/8 level and the daily Super Trend.
At the H1 chart, Super Trends have formed “bullish cross”. Earlier, the pair rebounded from the -1/8 level. On Monday, the price may continue moving upwards to reach the 4/8 level.
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