Murrey Math Lines 30.09.2016 (EUR/USD, AUD/USD)
30.09.2016
Analysis for September 30th, 2016
EUR USD, “Euro vs US Dollar”
After making several unsuccessful attempts, the EUR/USD pair finally rebounded from the 4/8 level and the daily Super Trend. At the moment, the price is testing the 2/8 level. In case it breaks this level, the market may continue falling much deeper.
At the H1 chart, the pair rebounded from the 8/8 level twice and right now is moving close to the 6/8 one. Consequently, the market may continue falling only if the price breaks the 6/8 level and fixes below it. If it happens, the pair may later reach the 4/8 level.
AUD USD, “Australian Dollar vs US Dollar”
The AUD/USD pair rebounded from the 8/8 level and started the current decline, but bears were stopped by the daily Super Trend. Consequently, the market may continue falling only if the price fixes under the 5/8 level.
At the H1 chart, Super Trends formed “bearish cross”. If the price breaks the 1/8 level, it may continue falling towards the -1/8 one. After reaching it, the market may start a new correction.
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