Murrey Math Lines 26.10.2015 (EUR/USD, EUR/JPY)
26.10.2015
Analysis for October 26th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar continues falling. At the end of the last week, Super Trends formed “bearish cross” and the pair was able to stay below the 1/8 level. Possibly, during the day the price may break the 0/8 level. In this case, the market will continue falling inside “oversold zone”.
The lines at the H4 and H1 charts are completely the same. If the price is able to stay below the H1 Super Trend, the pair may resume moving downwards. I’m planning to move the stop loss on my current sell order to breakeven when the market breaks the minimum.
EUR JPY, “Euro vs Japanese Yen”
The pair is falling quite steadily. Earlier, Super Trends formed “bearish cross”. If the market is able to stay below the 3/8 level, it may continue moving downwards to reach the 0/8 one. After reaching it, the price may start an ascending correction.
The lines at the H4 and H1 charts are completely the same. The pair is moving below Super Trends, which are influenced by “bearish cross”. It’s highly likely that It’s highly likely that the price may continue falling during Monday.
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