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Home / Analytics / Forex analysis & forecasts / Forex Murray math lines and forecasts / Murrey Math Lines 22.11.2016 (EUR/USD, USD/CHF)
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Murrey Math Lines 22.11.2016 (EUR/USD, USD/CHF)


Analysis for November 22nd, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still consolidating at the H4 Super Trend. If the price stays below it, the market will resume its decline. In this case, the closest target will be at the -2/8 level.

As we can see at the H1 chart, the pair is being corrected above the 2/8 level. If later the price is able to fix below this level, it may start a new descending movement towards the 0/8 one.

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is moving inside the flat between the 3/8 level and the H4 Super Trend. If the price rebounds from the Super Trend and fixes above the 3/8 level, the market may moving upwards to reach the 4/8 one.

At the H1 chart, the pair is trading inside a narrow range between the 6/8 and 5/8 levels. Possibly, on Tuesday the price may test its local lows. Later, if the pair rebounds to the upside, the market will resume growing and reach the 8/8 level.

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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.