Murrey Math Lines 16.12.2016 (EUR/USD, NZD/USD)
16.12.2016
Analysis for December 16th, 2016
EUR USD, “Euro vs US Dollar”
After rebounding from the daily Super Trend, the EUR/USD pair resumed falling. Yesterday, the price reached the 1/8 level and started a new correction. Later, the market may continue moving downwards to reach the 0/8 level.
At the H1 chart, the pair is being corrected under the H1 Super Trend. If the price rebounds from it, the market may resume falling. The closest target for bears is at the 4/8 level. After reaching it, the pair may start a new correction.
NZD USD, “New Zealand Dollar vs US Dollar”
At the H4 chart, Super Trends formed “bearish cross”. If later the pair fixes below the 3/8 level, the market will continue moving downwards to reach the 0/8 one.
As we can see at the H1 chart, the pair rebounded from the +1/8 level and started a new decline. The price is supported by the H1 Super Trend, from which the pair rebounded earlier. As a result, in the nearest future the market may reach the 0/8 level.
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