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Home / Analytics / Forex analysis & forecasts / Forex Murray math lines and forecasts / Murrey Math Lines 06.09.2016 (EUR/USD and USD/CHF)
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Murrey Math Lines 06.09.2016 (EUR/USD and USD/CHF)

Murrey Math Lines 06.09.2016

EUR USD "Euro vs. US Dollar"

After the market rebounded from the 4/8 level and the daily Super Trend it is trying to resume its downside move. As long as the pair managed to hold above the 3/8 level, a further decline towards the 1/8 level is possible.

On the 1-H trend, the Super Trend lines have formed a "bearish cross". If the pair is able to break out the 1/8 level, a deeper falling down will come to the fore. The nearest target is a Murrey level 2/8.

USD CHF "US Dollar vs. Swiss Frank"

The Frank has completed a rebound near the 4/8 level and the daily SuperTrend which suggests a possible uptrend restart. If the pair is able to break the 3/8 level and hold above it, we can anticipate a workout of the 7/8 level afterwards, which could be a start point for a correction move.

On 1-H chart we see how the market continues to consolidate within the "overbought area". During the day the market can resume its rise towards the +2/8 level and, if this level is broken out, the Murrey setup will be entirely redrawn.

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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.