Murrey Math Lines 04.06.2015 (EUR/USD, NZD/USD)

June 4, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar continues growing; it has already broken the 4/8 level. Yesterday Super Trends formed “bullish cross”. During the local correction, I opened a buy order with the target at the 7/8 level: if the price rebounds from it, the downtrend may resume.

At the H1 chart, the pair is moving inside “overbought zone”. Bulls are supported by the H1 Super Trend and if the market rebounds from it, the pair will continue moving upwards. After the price breaks the +2/8 level, the lines at the chart will be redrawn.

NZD USD, “New Zealand Dollar vs US Dollar”

In case of New Zealand Dollar, bears are still in charge. If the pair is able to stay below the H4 Super Trend, the market will continue falling towards the 1/8 level.

At the H1 chart, the price faced resistance from the 4/8 level. Probably, Super Trends may form “bearish cross” during the day. The closest target is at the -2/8 level: after reaching it, the market may start a new local correction.

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