Murrey Math Lines 01.07.2016 (EUR/USD, USD/CHF)
01.07.2016
Analysis for July 1st, 2016
EUR USD, “Euro vs US Dollar”
In case of Eurodollar, the correction continues. Yesterday, the market rebounded the 1/8 level, which means that the local growth may yet continue. The closest target for bulls is at the 3/8 level. If the price rebounds from it, the market may resume moving downwards.
The lines at the H4 and H1 charts are completely the same. Earlier, Super Trends formed “bullish cross”, which also means that the ascending correction may yet continue. During the day, the price may reach a new local high.
USD CHF, “US Dollar vs Swiss Franc”
Franc hasn’t been able to stay above the 5/8 level after all, and the price has started a local descending correction. Possibly, the daily Super Trend may provide support, and if the pair rebounds from it, the market may resume its ascending movement.
At the H1 chart, Franc has rebounded from the +1/8 level and started the current descending correction. On Friday, the pair may break yesterday’s low and move towards the daily Super Trend. If later the price fails to stay below the 7/8 level, the market may resume moving upwards.
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