Murrey Math Lines 19.12.2016 (EUR/USD, AUD/USD
19.12.2016
Analysis for December 19th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair continues falling. Earlier, the price rebounded from the 5/8 level and Super Trends formed “bearish cross”. If the price is able to stay below the 2/8 level in the nearest future, the market may resume moving downwards to reach the 0/8 one.
At the H1 chart, the pair rebounded from the 5/8 level started a new correction. If later the price rebounds from the H4 Super Trend and the 6/8 level, the market may start a new descending movement towards the 4/8 one.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair fixed inside the “oversold zone” below the 0/8 level. Earlier, Super Trends formed “bearish cross”. As a result, in the nearest future the market may continue falling towards the -2/8 level. In case this level is broken, the lines at the chart will be redrawn.
At the H1 chart, the pair rebounded from the H1 Super Trend, which means that it may reach a new local low. Consequently, on Monday the market may break the -2/8 level. In this case, the lines at the chart will be redrawn.
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