Murrey Math Lines 29.10.2015 (EUR/USD, AUD/USD)
29.10.2015
Analysis for October 29th, 2015
EUR USD, “Euro vs US Dollar”
Yesterday, after rebounding several times form the H4 Super Trend, Eurodollar reached a new low. It’s highly likely that the price may break the -2/8 level quite soon. In this case, the lines at the chart will be redrawn.
At the H1 chart, the pair is moving inside “oversold zone” as well. During the day, Eurodollar may start a local correction, after which I’m planning to open another sell order. Later, the price may break yesterday’s low.
AUD USD, “Australian Dollar vs US Dollar”
At the H4 chart, the pair is moving in the middle. Later, the price may continue falling towards the 3/8 level. If the market breaks this level, it may continue falling to reach the bottom of the chart.
As we can see at the H1 chart, the price has reached the 0/8 level and started a correction, which may continue on Thursday. If later the market breaks the -2/8 level, the lines at the chart will be redrawn.
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