Murrey Math Lines 21.11.2016 (EUR/USD, USD/CHF)
21.11.2016
Analysis for November 21st, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is moving below the H4 Super Trend and testing the -1/8 level. If the price rebounds from this level, it may resume moving downwards. The closest target for bears is at the -2/8 level. In case this level is broken, the lines at the chart will be redrawn.
The lines at the H4 and H1 charts are completely the same. Super Trends are still influenced by “bearish cross”. To confirm a new decline, the price has to fix below the H1 Super Trend.
USD CHF, “US Dollar vs Swiss Franc”
After rebounding from the -1/8 level, the USD/CHF pair started a fast growth. In the nearest future, the local correction may take place. If later the price rebounds from the H4 Super Trend, the market may resume moving upwards.
At the H1 chart, the pair is being corrected between Super Trends. If later the price break the 3/8 level and stays above it, the market will continue growing towards the 4/8 one.
RoboForex Analytical Department
Attention!
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.