Murrey Math Lines 11.12.2015 (EUR/USD, NZD/USD)
11.12.2015
Analysis for December 11th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar hasn’t been able to stay above the 2/8 level and right now is moving below it again, which means that the market may resume moving downwards. Moreover, the price is under the H4 Super Trend. The closest target for bears is at the 0/8 level.
The lines at the H4 and H1 charts are completely the same. Super Trends have formed “bearish cross”. On Friday, Eurodollar may resume its decline and break the yesterday’s low.
NZD USD, “New Zealand Dollar vs US Dollar”
New Zealand Dollar has rebounded from the 7/8 level four times, which means that it may start a descending correction, at least. If the pair breaks Super Trends and stays below them, the market may continue falling.
At the H1 chart, the current ascending correction faced resistance from the 6/8 level. Quite soon, the pair may break the 4/8 level and Super Trends may form “bearish cross”. If it happens, I’ll increase my short position.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.