Analysis of Murray's levels on July 22, 2016
EUR USD "Euro to US Dollar"
Euro to US Dollar is traded bellow 4 hour SuperTrends lines. Also price formed pullback from mark 1/8
that indicates on possibility of soon resuming of the pair descending. The nearest target is mark -2/8
On 1 hour chart, local correction was resisted by mark 2/8
, from which pullback was formed recently. So for the short term market descending towards Murray's level -2/8
AUD USD "Australian Dollar to US Dollar"
SuperTrends lines formed "bearish cross" that indicates on possibility of resuming of Australian Dollar descending. Because price is traded bellow mark 3/8
, then the nearest target is level 0/8
, from which beginning of bullish correction is possible in the future.
On 1 hour chart price tries to fix bellow level 1/8
. Earlier pullback from level 2/8
was formed that allowed price to fix bellow SuperTrends lines. So further breakage of 0/8
and further descending to line -2/8