Analysis of Murray's levels on July 22, 2016
EUR USD "Euro to US Dollar"
Euro to US Dollar is traded bellow 4 hour SuperTrends lines. Also price formed pullback from mark
1/8 that indicates on possibility of soon resuming of the pair descending. The nearest target is mark
-2/8.
On 1 hour chart, local correction was resisted by mark
2/8, from which pullback was formed recently. So for the short term market descending towards Murray's level
-2/8 is possible.
AUD USD "Australian Dollar to US Dollar"
SuperTrends lines formed "bearish cross" that indicates on possibility of resuming of Australian Dollar descending. Because price is traded bellow mark
3/8, then the nearest target is level
0/8, from which beginning of bullish correction is possible in the future.
On 1 hour chart price tries to fix bellow level
1/8. Earlier pullback from level
2/8 was formed that allowed price to fix bellow SuperTrends lines. So further breakage of
0/8 and further descending to line
-2/8 are possible.