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Murrey Math Lines 20.03.2015 (EUR/USD, AUD/USD)

Analysis for March 20th, 2015

EUR USD, “Euro vs US Dollar”

The price descending movement was as fast as the previous ascending one, and the market started a correction. Yesterday, after the pair returned under Super Trends and broke the 4/8 level, and I opened a sell order again. Possibly, in the nearest future Eurodollar may fall towards the 1/8 level.

At the H1 chart, bulls faced resistance from the 6/8 level. If in the nearest future the price is able to stay below the 3/8 level, it may continue falling towards the 0/8 one. I’m planning to move the stop loss to breakeven when the price breaks the minimum.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar also hasn’t been able to stay above Super Trends, which are still influenced by “bearish cross”. If the price breaks the 4/8 level, the market will continue falling towards new lows.

The market is moving in the middle of the H1 chart. If later the pair is able to stay below the 3/8 level, it may resume moving downwards. In this case, the target will be at the 0/8 level.

RoboForex Analytical Department

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