Murrey Math Lines 04.04.2016 (EUR/USD, AUD/USD)
04.04.2016
Analysis for April 4th, 2016
EUR USD, “Euro vs US Dollar”
The local ascending tendency continues. Despite the market is still moving above the H4 Super Trend, Eurodollar may try to break it. If later the pair recovers and starts moving above the H4 Super Trend, the price will continue growing towards the 6/8 level.
At the H1 chart, the price has rebounded from the 3/8 level three times and right now is moving between Super Trend. Consequently, in the nearest future, if the price breaks the 2/8 level, it may be corrected towards the 1/8 one.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has rebounded from the 7/8 level several times, which means that it may start a new correction. The first target for bears is at the daily Super Trend. If the price breaks this level, the market will fall much deeper.
As we can see at the H1 chart, the pair hasn’t been able to stay above the 8/8 level and right now is moving between Super Trends. It’s highly likely that during the day the price may test the 4/8 level. The future scenario depends on how the market will move at this level.
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