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Murrey Math Lines 04.12.2015 (EUR/USD, AUD/USD)

Analysis for December 4th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar rebounded from the -2/8 level and started a significant growth, during which the stops on my sell orders worked. Right now, I’m staying out of the market. In the nearest future, the price may start a local correction. If later the market rebounds from the 2/8 level once again, I’m planning to resume selling.



The situation is quite interesting on the H1 chart: with a single ascending movement, the price has broken the distance between the 0/8 and 8/8 levels without any serious corrections. On Friday, the pair may be corrected towards the 6/8 level and then resume growing.




AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is trying to get back under the 8/8 level and resume its decline. I'm holding a sell order, but planning to increase my position if the pair is able to stay below Super Trends. The closest target is at the 6/8 level.



At the H1 chart, the pair is moving at the top as well. If Super Trends form “bearish cross” and the price breaks the 6/8 level, the pair may continue falling.



 
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