Murrey Math Lines 25.11.2016 (EUR/USD, EUR/JPY)
25.11.2016
Analysis for November 25th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair is still being corrected. Possibly, in the nearest future the market may test the daily Super Trend. If the price rebounds from it, the pair will resume falling to break the -2/8 level.
At the H1 chart, the pair is moving at the top. On Friday, the price may try to break the 6/8 level. If later the pair fixes below this level, the market may resume moving downwards.
EUR JPY, “Euro vs Japanese Yen”
The EUR/JPY pair is still moving upwards steadily. Earlier, the price rebounded several times from the H4 Super Trend, which now is providing support. In the nearest future, bulls may try to break the +2/8 level. If they succeed, the lines at the chart will be redrawn.
As we can see at the H1 chart, the pair is moving inside the “overbought zone”, above Super Trends. The price rebounded from the +1/8 level, so it may continue growing and break the local high. After the market breaks the +2/8 level, the lines at the chart will be redrawn.
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