Murrey Math Lines 01.09.2016 (EUR/USD, AUD/USD)
01.09.2016
Analysis for September 1st, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still consolidating below the 3/8 level and the H4 Super Trend. In the nearest future, the market may test these levels once again and resume moving downward.
At the H1 chart, the pair is moving at the bottom. In order to continue falling, the price has to break the 0/8 level and fix below it. If it happens, the next target for bears will at the ‑2/8 level.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair couldn’t fix under the 3/8 level on the first try. At the same time, the H4 Super Trend provided resistance and the price rebound from it soon. Consequently, if the market does break the 3/8 level, bears will continue pushing the price towards the 1/8 one.
As we can see at the H1 chart, the pair is consolidating between Super trends. In order to resume falling, the price has to break the 2/8 level and fix below it. In this case, the market may reach the 0/8 level in the nearest future.
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