Murrey Math Lines 30.05.2016 (EUR/USD, USD/CHF)
30.05.2016
Analysis for May 30th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is being corrected. If the price rebounds from the H4 Super Trend during the day, it may continue falling. In this case, the next target will be at the 2/8 level. After reaching it, the market mat start another correction.
At the H1 chart, Eurodollar hasn’t been able to stay inside the “oversold zone” and right now is testing the 1/8 level. If the price rebounds from this level, it may resume falling and test the -2/8 level. After breaking this level, the lines at the chart will be redrawn.
USD CHF, “US Dollar vs Swiss Franc”
Franc is being corrected as well; the price is trying to rebound from the H4 Super Trend. If bulls succeed, the market may resume growing. In this case, the closest target will be at the +2/8 level.
At the H1 chart, the price has been supported by the 6/8 level, which means that it may resume growing. Earlier, Super Trends formed “bullish cross”. If later the price stays above Super Trends, I’m planning to open another buy order.
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