Home / Forex & Currency Exchange News / Murrey Math Lines 16.02.2017 (EUR/USD, NZD/USD)

Murrey Math Lines 16.02.2017 (EUR/USD, NZD/USD)

Article By RoboForex.com

EUR USD, “Euro vs US Dollar”

The EUR/USD pair failed to fix below the 5/8 level and, as a result, started the current ascending correction. The closest target for bulls is the 7/8 level. If later the price rebounds from this level, the market may resume moving downwards to reach the 4/8 one.

At the H1 chart, the pair rebounded from the 1/8 level and started a new correction; Super Trends formed “bullish cross”. During the day, the price may start a short-term decline, but later the market is expected to continue moving upwards to reach the 6/8 level.

 

NZD USD, “New Zealand Dollar vs US Dollar”

The NZD/USD pair rebounded from the 5/8 level and started a new correction. In the nearest future, the market may test the 7/8 level. If later the price rebounds from this level, it may resume moving downwards and test the 4/8 one.

At the H1 chart, the pair rebounded from the 2/8 level and then Super Trends formed “bullish cross”. On Thursday, the price may start a local correction towards the 4/8 level. If later the pair rebounds from this level, the market will resume growing towards the 6/8 one.

 

RoboForex Analytical Department

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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