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Murrey Math Lines 12.10.2017 (EUR/USD, AUD/USD)

12.10.2017

EUR USD, “Euro vs. US Dollar”

As we can see at the H4 chart, the EUR/USD pair is quickly getting closer to its first target at the 3/8 level at 1.1901, which means that it may continue growing to reach the next target at the 5/8 one at 1.2023. To confirm this scenario, the price has to be corrected towards the 3/8 level first. After reaching this level, the instrument is expected to rebound from it, test the 2/8 one at 1.1840 and rebound as well, and then resume growing to break the 3/8 level to the upside.  

At the H1 chart, the pair broke the consolidation channel between the 3/8 and 5/8 levels, which means that the price may continue growing moving upwards.

 

AUD USD, “Australian Dollar vs US Dollar”

At the H4 chart, yesterday the AUD/USD pair failed to break the 0/8 level at 0.7812 upwards and right now is trying to break it again, which means that the instrument may continue growing to reach the 3/8 level at 0.7995.

At the H1 chart, the pair is consolidating. If the price rebounds from the 5/8 level at 0.7843, the instrument may continue moving upwards with the target at 0.7995.

As we can see at the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue growing to reach 0.7995.

 

RoboForex Analytical Department

 

Attention!

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.



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