4:00 PM
Murrey Math Lines 02.04.2015 (EUR/USD, GBP/USD
FXTM Online Analysis Department. www.fxtmonline.com
EUR USD, “Euro vs US Dollar”
Eurodollar is still moving in the middle of the H4 chart. Possibly, Super Trends may form “bearish cross” in the nearest future. The pair will continue falling towards the 0/8 level as soon as it is able to stay below the 3/8one.
As we can see at the H1 chart, after rebounding from the 0/8 level, the pair has started a correction. Probably, in the future the price may test the 2/8 level: if it rebounds from this level, the downtrend may continue. If the market is able to stay below Super Trends, the next target will be at the -2/8 level.
GBP USD, “Great Britain Pound vs US Dollar”
Pound has been able to stay below the H4 Super Trend and the 2/8 level. In the nearest future, the pair may break the 0/8 level and then test the -1/8 one, which may later become the starting point of a new short-term correction.
The pair is moving at the bottom of the H1 chart. If the price is able to stay below the 0/8 level, it may continue falling inside “oversold zone”. If later the price breaks the -2/8 level, the lines at the chart will be redrawn.
FXTM Online Analysis Department. www.fxtmonline.com
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