Murrey Math Lines 16.02.2017 (EUR/USD, NZD/USD)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair failed to fix below the 5/8 level and, as a result, started the current ascending correction. The closest target for bulls is the 7/8 level. If later the price rebounds from this level, the market may resume moving downwards to reach the 4/8 one.
At the H1 chart, the pair rebounded from the 1/8 level and started a new correction; Super Trends formed “bullish cross”. During the day, the price may start a short-term decline, but later the market is expected to continue moving upwards to reach the 6/8 level.
NZD USD, “New Zealand Dollar vs US Dollar”
The NZD/USD pair rebounded from the 5/8 level and started a new correction. 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 and test the 4/8 one.
At the H1 chart, the pair rebounded from the 2/8 level and then Super Trends formed “bullish cross”. On Thursday, the price may start a local correction towards the 4/8 level. If later the pair rebounds from this level, the market will resume growing towards the 6/8 one.
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