Murrey Math Lines 01.02.2017 (EUR/USD, USD/CHF)

EUR USD, “Euro vs US Dollar”

Yesterday, after rebounding from the daily Super Trend, the EUR/USD pair broke the high and fixed inside the “overbought zone”; the +1/8 level provided resistance and, as a result, the price started a local correction. However, on Wednesday the market may resume growing and break the +2/8 level. In this case, the lines at the chart will be redrawn.

At the H1 chart, the pair reached the 6/8 level and started the descending correction, which is supported by the H1 Super Trend. It’s highly likely that the price may test the 5/8 level very soon. If it rebounds from this level, the market will resume moving upwards to reach the 8/8 one.

USD CHF, “US Dollar vs Swiss Franc”

After rebounding from the 4/8 level several times, the USD/CHF pair resumed its decline. In the future, after completing the local correction, the market may reach the 1/8 level. If later the price rebounds from this level, the pair start a more significant ascending correction.

At the H1 chart, the pair failed to fix inside the “oversold zone” on the first try. However, if the price stays below the H1 Super Trend, it may resume falling and break the -2/8 level. In this case, the lines at the chart will be redrawn.

RoboForex Analytical Department