Murrey Math Lines 21.03.2016 (EUR/USD, NZD/USD)
21.03.2016
Analysis for March 21st, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is consolidating near the H4 Super Trend. Earlier, after rebounding from the 4/8 level, the pair wasn’t able to reach the 5/8 one. If later the price breaks the 4/8 level and stays under it, the pair may resume its decline with the first target at the daily Super Trend.
At the H1 chart, Eurodollar is moving inside “overbought zone” and trying to say under Super Trends. Possibly, the pair may test the 8/8 level during the day. If the price breaks this level and stays below it, the market will fall towards the 7/8 one.
NZD USD, “New Zealand Dollar vs US Dollar”
New Zealand Dollar has been able to stay above the 8/8 level and right now is moving under the 7/8 one and the H4 Super Trend. It’s highly likely that in the nearest future the market may move towards the daily Super Trend. If the pair beaks it, bears will return to the market.
At the H1 chart, Super Trends have formed “bearish cross”. Earlier, the pair rebounded from the +1/8 level. On Monday, after finishing the local correction, the pair may fall towards the 3/8 level.
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