Murrey Math Lines 06.12.2016 (EUR/USD, AUD/USD

06.12.2016

Analysis for December 6th, 2016

EUR USD, “Euro vs US Dollar”

Yesterday, the EUR/USD pair broke the daily Super Trend and the 0/8 level with a strong move. In the nearest future, the market may start a new correction. To confirm this scenario, the price has to fix below the 0/8 level. If it happens, the pair may start a short-term decline towards Super Trends.



At the H1 chart, Super Trends formed “bullish cross”. On Tuesday, the pair may reach a new local high and test the +2/8 level. Later, the price may start a new correction and break the 8/8 level.




AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair rebounded from the daily Super Trend once again, which means that it may resume falling. To confirm this scenario, the price has to fix below the 2/8 level. In this case, the next target for bears will be at the 0/8 level.



At the H1 chart, the pair rebounded from the 7/8 level and then broke the H1 Super Trend. If later the price breaks the 3/8 level and stays below it, the market may continue falling towards the 0/8 one.  



 
RoboForex Analytical Department

Attention!

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.