Murrey Math Lines 24.11.2016 (EUR/USD, USD/CHF)
24.11.2016
Analysis for November 24th, 2016
EUR USD, “Euro vs US Dollar”
The EUR/USD pair continues falling inside the “oversold zone”. Earlier, the price rebounded from the H4 Super Trend several times. It’s highly likely that during the day the market may break the -2/8 level. In this case, the lines at the chart will be redrawn.
At the H1 chart, the pair is moving in the middle. In the nearest future, after completing the local correction, the market may resume moving downwards. The closest bearish target is at the 3/8 level.
USD CHF, “US Dollar vs Swiss Franc”
After rebounding from the H4 Super Trend, the USD/CHF pair successfully broke the 3/8 level and fixes above it. Consequently, during the next several days the price may continue growing towards the 4/8 level. After reaching it, the market may start another correction.
At the H1 chart, the pair is moving inside “overbought zone”. On Thursday, the price may start a short‑term decline towards the +1/8 level. If the pair rebounds from this level, the market may resume growing and break the +2/8 one. In this case, the lines at the chart will be redrawn.
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