Murrey Math Lines 06.04.2016 (EUR/USD, AUD/USD)
06.04.2016
Analysis for April 6th, 2016
EUR USD, “Euro vs US Dollar”
In case of Eurodollar, the current situation is very important. If the market is able to stay under the H4 Super Trend and the 5/8 level, the current correction may become much deeper. However, if the pair rebounds from these levels upwards, bulls may break the maximum and reach the 6/8 level.
At the H1 chart, the pair is attempting to stay under the 2/8 level. If Super Trends form “bearish cross” during the day, the price will continue falling towards the 1/8 level. If later this level is broken as well, the market may reach much lower targets.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar has rebounded from the 7/8 level, which means that it may start a new descending correction. Right now, the pair is trying to stay under the daily Super Trend. If bears succeed in it, the market will fall towards the 4/8 level.
At the H1 chart, the pair is moving in the middle. Earlier, Super Trends formed “bearish cross”. Later, is the pair stays below the 3/8 level, the market may break the minimum and reach the 1/8 one.
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