Murrey Math Lines 11.11.2016 (EUR/USD, AUD/USD)
11.11.2016
Analysis for November 11th, 2016
EUR USD, “Euro vs US Dollar”
At the H4 chart, Super Trends formed “bearish cross”. Earlier, the EUR/USD pair rebounded from the +1/8 level and started plummeting. If the market stays below the 3/8 level, the pair will continue falling.
The lines at the H4 and H1 charts are completely the same. In the nearest future, the market may continue falling in case it is supported by Super Trends. The closest target is at the 1/8 level. After reaching it, the pair may start a new correction.
AUD USD, “Australian Dollar vs US Dollar”
After rebounding from the 7/8 level, the AUD/USD pair started falling fast, broke the daily Super Trend, and reached the 4/8 level. In the nearest future, the market may test the 3/8 level. If the price rebounds from this level, it may resume its descending movement.
At the H1 chart, the pair rebounded from the 0/8 level twice and started a new correction. The closest target is at the 2/8 level. If the price rebounds from this level, the market may continue falling.
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