Murrey Math Lines 27.10.2016 (EUR/USD, AUD/USD)
27.10.2016
Analysis for October 27th, 2016
EUR USD, “Euro vs US Dollar”
Yesterday, the EUR/USD pair rebounded from the 3/8 level, but is still moving above the H4 Super Trend. If the price breaks it downwards, the market will move downwards to reach the 0/8 level.
At the H1 chart, the current correction faced resistance from the 6/8 level. Consequently, if the pair breaks Super Trends and stays below them, the market may fall towards the 2/8 level.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair rebounded from the 8/8 level and right now is moving under the H4 Super Trend. As a result, in the nearest future the market may fall towards the 4/8 level. If it breaks this level, the price may continue falling much deeper.
At the H1 chart, Super Trends formed “bearish cross”. Considering that the price is already moving below the 3/8 level, in the future is may continue falling to reach the 0/8 one.
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