Murrey Math Lines 18.01.2017 (EUR/USD, USD/CHF)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair finally managed to fix above the 7/8 level, which means that the price may start a long ascending correction. In the nearest future, the market may return to the 7/8 level. If later the price rebounds from this level, it may resume growing to test the 8/8 one.

At the H1 chart, the 7/8 level provided resistance level and the pair rebounded from it several times. Right now, the price is moving between Super Trends. As a result, in the nearest future the market may fall towards the 4/8 level. After reaching it, the pair may resume moving upwards.

USD CHF, “US Dollar vs Swiss Franc”

In case of the USD/CHF pair, the situation is quite interesting, because the price rebounded from the channel’s downside border and the 4/8 level. Consequently, in the nearest future the market may move towards the daily Super Trend and the 6/8 level.

At the H1 chart, the pair was supported by the 0/8 level and the price rebounded from it. In the nearest future, the market may move towards the 4/8 level. To confirm this scenario, the price has to break the 2/8 level and fix above the H4 Super Trend.

RoboForex Analytical Department