Murrey Math Lines 23.12.2016 (EUR/USD, AUD/USD
23.12.2016
Analysis for December 23rd, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the 2/8 level, however, it is still moving between Super Trends. Consequently, in the nearest future the market may continue consolidating and test the 2/8 level once again.
At the H1 chart, the 4/8 level provided resistance. It’s highly likely that on Friday bears may test the 1/8 level. If the price rebounds from this level, it may resume moving upwards. Possibly, later the market may test the daily Super Trend.
AUD USD, “Australian Dollar vs US Dollar”
After rebounding from the H4 Super Trend, the AUD/USD pair resumed falling. If the price breaks the 3/8 level and fixes below it, the market may continue falling. The closest target for bears is at the 2/8 level.
At the H1 chart, Super Trends formed “bearish cross”. On Friday, the local correction may take place, but later the price is expected to break the low and then continue falling towards the 0/8 level.
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