Murrey Math Lines 22.10.2015 (EUR/USD, EUR/JPY)
22.10.2015
Analysis for October 22nd, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has reached a new local low, but the pair is still moving between Super Trends. If later the price is able to break the 5/8 level, the market will continue falling towards the 4/8 one.
At the H1 chart, the pair has broken the 3/8 level and right now is trying to stay below it. If the price succeeds, the pair will continue falling towards the 0/8 level. I’m planning to open another sell order during the correction.
EUR JPY, “Euro vs Japanese Yen”
After rebounding from the 7/8 level several times, the pair has started falling. It’s highly likely that in the nearest future the price may break the daily Super Trend. The closest target is at the 4/8 level: if the market breaks it, the pair will continue falling much deeper.
As we can see at the H1 chart, Super Trends have formed “bearish cross”. Possibly, quite soon the pair may break the 0/8 level and continue falling inside “oversold zone”. If the market breaks the -2/8 level, the lines at the chart will be redrawn.
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.