Murrey Math Lines 17.12.2014 (EUR/USD, AUD/USD)
17.12.2014
Analysis for December 17th, 2014
EUR USD, “Euro vs US Dollar”
The market has rebounded from the 6/8 level, but hasn’t broken Super Trends yet. If the price stays below the 3/8 level, the market willresume falling towards the 0/8 one.
The lines at the H4 and H1 charts are completely the same. Possibly, in the nearest future Super Trends may form “bearish cross”. If it really happens, I’ll increase my short position.
AUD USD, “Australian Dollar vs US Dollar” After rebounding from the H4 Super Trend several times, Australian Dollar is back to falling. Moreover, the lines at the chart have been redrawn. If the price is able to stay below the 3/8 level, the market may fall much deeper.
The pair is moving at the top of the H1 chart; Super Trends are still influenced by “bearish cross”. Probably, the price may reach a new low after completing a local correction.
RoboForex Analytical Department
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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.