Murrey Math Lines 13.12.2016 (EUR/USD, NZD/USD)
13.12.2016
Analysis for December 13th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair couldn’t stay below the -1/8 level and right now is trading between Super Trends, which formed “bearish cross”. On Tuesday, the ascending correction may continue. However, if later the price fixes below the -1/8 level, the market will start a new decline.
At the H1 chart, the closest target for bulls is at the 3/8 level. If the pair rebounds from this level, bears will try to start a new descending movement. To confirm this scenario, the price has to six below Super Trends.
NZD USD, “New Zealand Dollar vs US Dollar”
The NZD/USD pair is trading above the H4 Super Trend close to the 6/8 level. It’s highly likely that in the nearest future the market may test the 7/8 level. If the price rebounds from this level, the pair may start a new decline.
At the H1 chart, the pair is moving in the middle. Super Trends formed “bullish cross”. In the nearest future, the price may test the 6/8 level. If this level provides resistance, the market may reverse and start falling.
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