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Home / Analytics / Forex analysis & forecasts / Forex Murray math lines and forecasts / Murrey Math Lines 31.08.2016 (EUR/USD, AUD/USD)
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Murrey Math Lines 31.08.2016 (EUR/USD, AUD/USD)


Analysis for August 31st, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair continues falling. Earlier, several rebounds from the 6/8 level, Super Trends formed “bearish cross”. Consequently, in the nearest future the market may continue moving downwards to reach the 1/8 level.

As we can see at the H1 chart, the H1 Super Trend has provided resistance to the current local correction. As a result, if the price is able to stay under the 1/8 level, the market will continue falling to reach the ‑2/8 one.

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair rebounded from the 6/8 level and resumed falling, and as a result, Super Trends formed “bearish cross”. It’s highly likely that after finishing the local correction the market may continue moving downwards. The closest target is at the 1/8 level.

As we can see at the H1 chart, the pair has been able to stay below the 3/8 level, which means that it may continue falling. If later the price rebounds from the 1/8 level, the market may start a new local correction.

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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.