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Murrey Math Lines 02.02.2017 (EUR/USD, USD/CHF)

EUR USD, “Euro vs US Dollar”

The EUR/USD rebounded from the 8/8 level and the H4 Super Trend, which means that it may resume growing. The closest target for bulls is at the 2/8 level. If the market this level, the lines at the chart will be redrawn.

At the H1 chart, yesterday the pair rebounded from the 4/8 level, which provided support. Super Trends are still influenced by “bearish cross”. Considering that the price is already moving above the 5/8 level, in the nearest future it may continue moving upwards to reach the 8/8 one.

 

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair rebounded from the H4 Super Trend, which earlier provided resistance several times. As a result, in the nearest future the market may continue its decline. The closest target for bears is at the 1/8 level. After reaching this level, the price may start an ascending correction.

As we can see at the H1 chart, yesterday the pair rebounded from the 6/8 level and fixed below Super Trends. Consequently, on Thursday the price may continue falling towards the 2/8 level.

 

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