Murrey Math Lines 27.05.2016 (EUR/USD, AUD/USD)
27.05.2016
Analysis for May 27th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is being corrected inside the “oversold zone” between Super Trends. On Friday, the price may test the 0/8 level and the daily Super Trend. If the price rebounds form these levels, it may resume falling. In this case, the next target for bears will be at the -2/8 level.
At the H1 chart, the price has rebounded from the 3/8 level twice, which means that it may resume falling. However, in order to start a new descending movement towards the 0/8 level, Eurodollar has to stay under Super Trends first.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is being corrected between Super Trends as well. Earlier, the market rebounded from the 4/8 level and reached a new local low. If later the price stays below the H4 Super Trend, it will continue moving downwards. The closest target is at the 2/8 level. If this level is broken, the pair will fall much deeper.
At the H1 chart, the pair is being corrected between the 5/8 and 3/8 levels. Considering that earlier the price rebounded from the 5/8 level twice, the market may resume falling if it stays under Super Trends.
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.