Analysis of Murray's level for EUR/USD, and AUD/USD on 16.09.2016

16.09.2016
Analysis of Murray's level on September, 2016

EUR/USD "Euro vs US Dollar"

Analysis of Murray's level for EUR/USD on 16.09.2016

Euro-US Dollar keeps going with consolidation near the SuperTrend lines. Earlier we have seen a bouncing from the mark 5/8, which gives us a hint on possible further price descending. The nearest bearish target is the level at 3/8.

Analysis of Murray's level for EUR/USD on 16.09.2016

On 1 hour chart market shows pretty much the same dynamic near the middle of Murray indication formation. If we saw this pair breaking and settled below the mark 4/8, then that might lead to the local price descending towards the level at 2/8. And if we saw this level be broken as well there more serious drop might be expected.

AUD USD "Australian dollar vs US Dollar"

Analysis of Murray's level for AUD/USD on 16.09.2016

After double bouncing from the level at 2/8 there is a correction for Aussie. If the market kept its position below the mark at 3/8 and 4 hours SuperTrend line, then we would expect at the first place a downward movement towards the mark 0/8.

Analysis of Murray's level for AUD/USD on 16.09.2016

On 1 hour chart market is traded near the mark at 2/8 and SuperTrend lines. So that if currency pair managed to come back and settled below those levels, then we would expect the start of another iteration for price descending with a target at the mark 2/8 as the nearest one.
Attention!

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.