Murrey Math Lines 05.10.2015 (EUR/USD, USD/ZAR)
05.10.2015
Analysis for October 5th, 2015
EUR USD, “Euro vs US Dollar”
Last Friday, Eurodollar attempted to break its consolidation channel, but later the pair returned under the 4/8 level. If the market is able to stay below Super Trends on Monday, the price may resume moving downwards to reach the first target at the 2/8 level.
At the H1 chart, the pair is also moving in the middle. It’s highly likely that Super Trends may form “bearish cross” during the day. In this case, I’m planning to increase my position.
USD ZAR, “US Dollar vs South African Rand”
As we can see at the H4 chart, South African Rand is testing the 6/8 level. If the pair rebounds from this level, it may start another ascending movement. i\m planning to open another buy order after the market stays above Super Trends.
At the H1 chart, the pair is attempting to rebound from the 0/8 level. The price may resume growing after Super Trends form “bullish cross”. The closest target is at the 3/8 level.
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