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Home / Analytics / Forex analysis & forecasts / Forex Murray math lines and forecasts / Murrey Math Lines 22.08.2016 (EUR/USD, AUD/USD)
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Murrey Math Lines 22.08.2016 (EUR/USD, AUD/USD)


Analysis for August 22nd, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has broken the 5/8 level along with the H4 Super Trends, which means that it may continue moving downwards. The closest target is at the 4/8 level, which is confirmed by the daily Super Trend. If the price breaks it, the market will continue falling towards the 3/8 level.

At the H1 chart, Super Trends have formed “bearish cross”. Earlier, the price rebounded from the 2/8 level. It’s highly likely that during the day the pair may test the 0/8 level. If the price rebounds from this level, the market may start a new correction.

AUD USD, “Australian Dollar vs US Dollar”

After rebounding from the 7/8 level three times, the AUD/USD pair resumed falling. Considering that the price has broken the daily Super Trend, it may continue moving downwards. The closest target for bears is at the 3/8 level.

At the H1 chart, the pair is moving at the top. Earlier, Super Trends formed “bearish cross”. Consequently, if the price breaks the 0/8 level, the first target will be at the -2/8 one. In case this level is broken as well, the lines at the chart will be 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.