Murrey Math Lines 02.06.2015 (EUR/USD, GBP/USD)

June 2, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is still being corrected between Super Trends, which earlier formed “bearish cross”. Possibly, in the nearest future bears will continue pushing the price downwards. The closest target is still at the 0/8level. After reaching it, the market may start a deeper ascending correction.

As we can see at the H1 chart, the pair has been supported by the 4/8 level. If the market rebounds from this level, it may resume falling. I’m planning to move the stop loss to breakeven as soon as the market breaks the minimum.

GBP USD, “Great Britain Pound vs US Dollar”

Pound is also still moving downwards; bears are supported by Super Trends. If later the pair is able to break the 4/8 level, the market will continue falling towards the 3/8 one.

At the H1 chart, the pair is moving at the bottom. After the price breaks the 0/8 level and stays below it, the market will continue falling towards the -2/8 one. During the correction, I opened another sell order.

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