Murrey Math Lines: EUR/USD, NZD/JPY
|Analysis for October 25th, 2016
EURUSD, "Euro vs US Dollar"
The EUR/USD pair is being corrected under the H4 Super Trend. Earlier, the price fixed below the 3/8 level. Consequently, in the nearest future the market may continue falling towards the 1/8 level.
At the H1 chart, the pair is trying to enter the "oversold zone". It's highly likely that in the nearest future the market may break the 0/8 level and then continue falling towards the -2/8 one.
NZDJPY, "New Zealand Dollar vs Japanese Yen"
In case of the NZD/JPY pair, the current situation is rather interesting. After rebounding from the 8/8 level twice, the market is trying to start a new bearish correction. As a result, during the next several days, the price may continue falling to reach the 6/8 level.
At the H1 chart, the first part of the correction was stopped by the 6/8 level. If the market breaks Super Trends downwards, it may start moving towards the 4/8 level.
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