Murrey Math Lines 19.08.2015 (EUR/USD, AUD/USD)
19.08.2015
Analysis for August 19th, 2015
EUR USD, “Euro vs US Dollar”
At the H4 chart, the price is moving between Super Trends. If Eurodollar is able to stay below the 5/8 level, it may continue moving downwards. The closest target is the daily Super Trend and the 4/8 level: if the market breaks these levels, it may continue falling much lower.
The lines at the H4 and H1 charts are completely the same. Earlier, Super Trends formed “bearish cross”. If the pair is supported by the 5/8 level and stays below the H1 Super Trend, I’m planning to open another sell order.
AUD USD, “Australian Dollar vs US Dollar”
As we can see at the H4 chart, Australian Dollar is supported by Super Trends and may enter “oversold zone” soon. If the pair is able to break the 0/8 level and stay below it, the market will continue falling towards the -2/8 one.
At the H1 chart, Super Trends have formed “bearish cross”. If the price continues falling and stays below the 3/8 level, it may continue moving downwards to reach the 0/8 one. The market may reach a new low during Wednesday.
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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.