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Home / Analytics / Forex analysis & forecasts / Forex Murray math lines and forecasts / Murrey Math Lines 04.11.2016 (EUR/USD, USD/CHF)
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Murrey Math Lines 04.11.2016 (EUR/USD, USD/CHF)


Analysis for November 4th, 2016

EUR USD, “Euro vs US Dollar”

Yesterday, the EUR/USD pair rebounded from the H4 Super Trend, which means that it may continue growing. The closest target is at the 7/8 level. If later the price rebounds from this level, the market may start a new descending correction.

At the H1 chart, the pair couldn’t fix below the 7/8 level. It’s highly likely that in the nearest future bulls may try to break the 8/8 level. If they succeed and the price fixes above this level, the market will continue growing to reach the +2/8 one.

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is moving in the middle of the chart below the 4/8 level. If the price breaks the H4 Super Trend in the nearest future, the instrument will continue moving to reach the closest target at the 2/8 level.

At the H1 chart, the pair is moving inside the “oversold zone”. To confirm a new descending movement, the price has to fix below Super Trends. If it happens, bears may test the -2/8 level quite soon.

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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.