Murrey Math Lines 21.08.2015 (EUR/USD, AUD/USD)
21.08.2015
Analysis for August 21st, 2015
EUR USD, “Euro vs US Dollar”
Euro has started a fast growth and I’m staying out of the market. It’s highly likely that the price may start the correction from the +1/8 level towards the 8/8 one. If in the future the pair rebounds from the latter level, I’ll open a buy order. On the other hand, if the price breaks the 8/8 level and stays below it, the market may start a deeper correction or even resume falling.
At the H1 chart, the price is moving inside “overbought zone”. The pair may for a new local correction towards the 8/8 level during the day. If the price rebounds from the level and later breaks the +2/8 one, the lines at the chart will be redrawn.
AUD USD, “Australian Dollar vs US Dollar”
As we can see at the H4 chart, Australian Dollar is trying to stay below the 0/8 level. The pair is supported by Super Trends. In the nearest future, the pair may continue falling towards the -2/8 level. If the market breaks it, the lines at the chart will be redrawn.
At the H1 chart, the price is moving in the middle. Earlier, Super Trends formed “bearish cross”. After the market is able to stay below the 3/8 level, it may continue moving downwards to reach the 0/8 one.
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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.