Murrey Math Lines 08.02.2017 (EUR/USD, AUD/USD)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is attempting to break the daily Super Trend. If later the price fixes below the 6/8 level, it may start a new descending correction with the closest target at the 5/8 one.

At the H1 chart, Super Trend formed “bearish cross”. The pair is trying to stay below the 1/8 level. If bears succeed, the price will continue falling towards the -2/8 level. In case this level is broken, the lines at the chart will be redrawn.

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair rebounded from the 7/8 level twice, started a new correction, and fixed below the H4 Super Trend. As a result, in the nearest future the market may test the daily Super Trend and the 6/8 level.

As we can see at the H1 chart, Super Trends formed “bearish cross”. Taking into account that the price is already moving below the 3/8 level, the pair may continue falling towards the 0/8 one during the day. If later the market rebounds from the latter level, it may resume moving upwards.

RoboForex Analytical Department