Murrey Math Lines 28.12.2016 (EUR/USD, USD/CHF)
28.12.2016
Analysis for December 28th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still consolidating between Super Trends. It’s highly likely that in the nearest future the market may test the 6/8 level again. If the price rebounds from this level, it may resume its decline with the target at the 0/8 one.
At the H1 chart, the pair fixed above the 5/8 level and, as a result, started a shot-term growth. It’s highly likely that on Wednesday the price may test the 8/8 and +1/8 levels. If the market rebounds from these levels, bears may attempt to reverse the pair to the downside.
USD CHF, “US Dollar vs Swiss Franc”
The USD/CHF pair is being corrected inside the “overbought zone”. In the nearest future, the market may test the daily Super Trend and the 8/8 level. If the price rebounds from these levels, the pair may start a new ascending movement.
At the H1 chart, the pair is moving between Super Trends. The closest target of the current correction is the 4/8 level. If the price rebounds from this level and fixes above the 5/8 one, the market may resume growing to reach its local highs.
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