Murrey Math Lines 18.05.2016 (EUR/USD, USD/CHF)
18.05.2016
Analysis for May 18th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has broken its local low and right now continues falling. Earlier, Super Trends, formed “bearish cross”. The closest target for bears is still at the 0/8 level. If later the pair rebounds from it, the market will start a local ascending correction.
At the H1 chart, the price has started forming a local correction from the 1/8 level, but the pair is moving below the H1 Super Trend. In the future, the market may reach the 0/8 level. The future scenario depends on how the pair will move at this level.
USD CHF, “US Dollar vs Swiss Franc”
Franc is moving inside the “overbought zone” quite steadily. Earlier, the price rebounded from the 8/8 level and, as a result, resumed its growth. If later the pair breaks the +2/8 level, the lines at the chart will be redrawn.
At the H1 chart, yesterday the pair was supported by Super Trends and managed to stay above the 5/8 level. On Wednesday, the local correction may take place, but later Franc may continue growing towards the 8/8 level.
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