Murrey Math Lines 20.10.2015 (EUR/USD, EUR/JPY)
20.10.2015
Analysis for October 20th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has started another local correction and right now is trying to rebound from the H4 Super Trend. If the price is able to stay below the 6/8 level, the market will continue falling towards the 4/8 one.
At the H1 chart, the pair is moving in the middle. Earlier, Super Trends formed “bearish cross”. It later the price is able to stay below the 3/8 level, I’m planning to open another sell order.
EUR JPY, “Euro vs Japanese Yen”
The local correction continues. Right now, pair is moving between Super Trends, which may form “bearish cross” in the nearest future. The closest target is at the 4/8 level.
At the H1 chart, the pair is testing the 4/8 level. If the market rebounds from it, the price may continue falling. In this case, the closest target will be at the 0/8 level.
RoboForex Analytical Department
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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.