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Home / Analytics / Forex analysis & forecasts / Forex Murray math lines and forecasts / Murrey Math Lines 08.11.2016 (EUR/USD, AUD/USD)
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Murrey Math Lines 08.11.2016 (EUR/USD, AUD/USD)


Analysis for November 8th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair couldn’t stay above the 6/8 level, but then managed to fix below the H4 Super Trend. Consequently, in the nearest future the market may complete the local correction and then continue falling towards the 4/8 level.

As we can see at the H1 chart, Super Trends formed “bearish cross”. During the day, the price may test the 7/8 level. If the pair rebounds from this level, the market may resume falling to reach the 4/8 one.

AUD USD, “Australian Dollar vs US Dollar”

In case of the AUD/USD pair, the situation is quite interesting, because it rebounded from the +1/8 level twice. If the price is able to stay under the 8/8 level, it may start falling. In this case, the first target for bears will be at the 7/8 level.

At the H1 chart, the pair is moving between the 5/8 and 3/8 levels. As a result, in the nearest future the market may test the 3/8 level. If this level is broken, the price may continue falling much deeper.

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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.