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Home / Analytics / Forex analysis & forecasts / Forex Murray math lines and forecasts / Murrey Math Lines 26.10.2016 (EUR/USD, USD/CHF)
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Murrey Math Lines 26.10.2016 (EUR/USD, USD/CHF)

26.10.2016

Analysis for October 26th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair rebounded from the 2/8 level several times and may start a new ascending correction. The closest target is at the 3/8 level. If the price rebounds from this level, the market may resume its descending movement.



At the H1 chart, the current decline was stopped by the 0/8 level and then the price returned to the 1/8 one. It’s highly likely that in the nearest future the market may test the 2/8 level. If the pair rebounds from this level and later fixes below Super Trends, it may resume falling.




USD CHF, “US Dollar vs Swiss Franc”

At the H4 chart, the USD/CHF pair couldn’t fix above the 7/8 level and may soon start a new correction. The closest target for bears is at the 6/8 level. If later the price rebounds from this level, the market may resume moving upwards.



At the H1 chart, the pair wasn’t able to fix above the 7/8 level as well. During the day, the price may fall towards the 4/8 level. The future scenario depends on how the pair will move there. If it rebounds from this levels and stays above Super Trends, I’m planning to increase my long position.



 
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