Murrey Math Lines 02.05.2017 (EUR/USD, USD/CHF)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still consolidating near the 7/8 level. If later the price fixes below this level, the market may start a new descending correction towards the 5/8 level and the daily Super Trend.
At the H1 chart, the pair is testing the 6/8 level, which provided resistance several times in the past. If the price fails to fix above this level again, the market will start a new bearish correction.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is trying to fix above the 3/8 level. If bulls keep the price above this level, the market will start a short-term growth to reach the 4/8 level and the daily Super Trend.
At the H1 chart, the pair is consolidating in the middle. Considering that earlier the price rebounded from the 1/8 level, it is expected to resume growing and reach the 7/8 one.
RoboForex Analytical Department
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.