Murrey Math Lines 16.11.2016 (EUR/USD, USD/CHF)
Analysis for November 16th, 2016
EUR USD, “Euro vs US Dollar”
After rebounding from the H4 Super Trend, the EUR/USD pair is again trying to fix below the 0/8 level. If bears succeed, the price may resume its descending movement towards the -2/8 level.
The lines at the H4 and H1 charts are completely the same. Yesterday, the pair rebounded from the 1/8 level and started a new decline. I’m planning to start selling with the target at the -2/8 level as soon as the market fixes below the H1 Super Trend.
USD CHF, “US Dollar vs Swiss Franc”
Yesterday, the USD/CHF pair rebounded from the H4 Super Trend and right now is testing the 8/8 level. If the price manages to stay above this level, the market will continue moving upwards to reach the closest target at the +2/8 one.
At the H1 chart, the pair is being corrected between Super Trends. As s result, to resume moving upwards, the price has to fix above the 8/8 level and the H1 Super Trend. As soon as it happens, I’m planning to open another buy order.
RoboForex Analytical Department
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.