Murrey Math Lines 19.10.2015 (EUR/USD, EUR/JPY)
19.10.2015
Analysis for October 19th, 2015
EUR USD, “Euro vs US Dollar”
After rebounding from the 8/8 level, Eurodollar has started falling and right now is moving between Super Trends. The closest target is at the 4/8 level. If the market breaks it, the price will continue falling.
As we can see at the H1 chart, the pair is trying to stay below the 3/8 level. Earlier, Super Trends formed “bearish cross”. It looks like in the nearest future the market is going to continue moving towards the 0/8 level.
EUR JPY, “Euro vs Japanese Yen”
The pair is trying to stay below Super Trends. The closest target is at the 4/8 level. If the price is able to break this level and stay below it, the market will continue falling much deeper.
As we can see at the H1 chart, last week Super Trends formed “bearish cross”. Last Friday, the market rebounded from the 4/8 level. In the nearest future, the pair is expected to reach the 0/8 level.
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