Murrey Math Lines 28.10.2015 (EUR/USD, AUD/USD)
28.10.2015
Analysis for October 28th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected near the H4 Super Trend. If the price rebounds from it again, the pair will resume its decline. In this case, the closest target will be at the -1/8 level. I’m planning to open another sell order when the market breaks the 0/8 level.
The lines at the H4 and H1 charts are completely the same. If the price is able to break Super Trends downwards, I’m planning to move the stop losses on my sell order to the local high, which the pair reached yesterday. It’s highly likely that the price may break the 0/8 level during the day.
AUD USD, “Australian Dollar vs US Dollar”
As we can see at the H4 chart, Super Trends have formed “bearish cross”. The pair has been able to stay below the 5/8 level, which means that it may continue falling towards the 4/8 level. If the market breaks this level as well, it may fall much deeper.
At the H1 chart, the price is moving at the bottom, under Super Trends. If the pair is able to stay below the 2/8 level, it may continue falling and break the 0/8 one as well. In this case, the target for bears will be at the -2/8 level.
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