Murrey Math Lines 23.02.2017 (EUR/USD, USD/CHF)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair rebounded from the 4/8 level and started a new ascending correction. Possibly, in the nearest future the market may continue moving upwards. If later the 6/8 level provides resistance, the price may reverse and resume its decline.

As we can see at the H1 chart, Super Trends formed “bullish cross”. The closest target is at the 4/8 level. If later the pair rebounds from this level, it may start a new descending movement and break the local low soon.

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is trading between the 6/8 and 2/8 levels. In the nearest future, the price may test the 6/8 level. If the pair rebounds from it, the pair may try to reverse and resume moving downwards. The closest target will be at the 1/8 level.

At the H1 chart, the pair rebounded from the 4/8 level and right now is trying to break the H4 Super Trend. Possibly, on Thursday the price may test the 2/8 level. After rebounding from it, the market may start a short-term growth and test the 4/8 level again.

RoboForex Analytical Department