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Murrey Math Lines 01.12.2015 (EUR/USD, EUR/JPY)

Analysis for December 1st, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is still moving inside “oversold zone”. It’s highly likely that on Tuesday the pair may test the ‑1/8 level once again. If it rebounds from this level, the market may resume falling towards the -2/8 one.



At the H1 chart, the price is moving in the middle. If the pair tests the 4/8 level once again and rebounds from it, the market may start a new descending movement. In this case, the first target for bears will be at the 1/8 level.




EUR JPY, “Euro vs Japanese Yen”

The pair is still being corrected. Earlier, the price rebounded from the 3/8 level. In the nearest future, the correction may yet continue, but later (if the instrument is able to stay below the H4 Super Trend) the market is expected to resume its decline.



At the H1 chart, after rebounding from the 0/8 level, the pair has started a correction. If later the market breaks the 2/8 level, it may continue moving downwards. In this case, the price may break the -2/8 level and the lines at the chart will be redrawn.



 
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