Murrey Math Lines: EUR/USD, NZD/USD
|EURUSD, “Euro vs US Dollar”
The EUR/USD pair resumed its decline and right now is getting closer to the 4/8 level. If later the price rebounds from this level, it may start a new correction. In this case, the target will be at the 5/8 level and the H4 Super Trend. If later the pair rebounds from these levels as well, the market may continue falling.
At the H1 chart, the 0/8 level may provide resistance. If later the pair rebounds from this level, it may start a new local correction to reach the 2/8 one.
NZDUSD, “New Zealand Dollar vs US Dollar”
The NZD/USD pair rebounded from the 8/8 level and then Super Trends formed “bearish cross”. On Wednesday, the local correction with the may take place; its target is at the 6/8 level. If later the price rebounds from this level, bears may try to test the 4/8 one.
As we can see at the H1 chart, the pair rebounded twice from the 0/8 level and, as a result, started the current ascending correction. Consequently, in the nearest future the market may move upwards to reach the 4/8 level. After reaching this level, the price may resume its decline.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.