Murrey Math Lines 01.04.2016 (EUR/USD, AUD/JPY)
01.04.2016
Analysis for April 1st, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has been able to stay above the 5/8 level, which means that the pair may continue moving upwards. Bulls are supported by the H4 Super Trend. On Friday, the market may grow to reach the 6/8 level. If the price rebounds from this level, it may start a new correction.
At the H1 chart, the price has rebounded from the H1 Super Trend, which earlier provided support to the current growth. The closest target for bulls is the 8/8 level. In the price rebounds from this level, I’m planning to close my order.
AUD JPY, “Australian Dollar vs Japanese Yen”
The pair has rebounded from the H4 and weekly Super Trends and the 7/8 level. Consequently, in the nearest future the market may grow to reach the 8/8 level. If the price rebounds this level, the pair will start a new descending correction.
At the H1 chart, the pair is moving in the middle. Taking into account that the price has already rebounded from the 4/8 level twice, the pair may move upwards a bit. If the market is able to keep the price above the 5/8 level, it will continue growing towards the closest target at the 8/8 one.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.