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Murrey Math Lines 07.04.2015 (EUR/USD, AUD/USD)

Analysis for April 7th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has rebounded from the 6/8 level again, which means that the downtrend may resume. Possibly, in the nearest future the price may break Super Trends, which may later form “bearish cross”.

As we can see at the H1 chart, the pair is trying to stay below the 3/8 level. Super Trends may form “bearish cross” during the next several hours. Later the pair may break the 0/8 level and then continue falling inside “oversold zone”.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has reach the daily Super Trend and may rebound from it. Moreover, the price is supported by the 2/8 level, which also means that the market may resume the downtrend very soon and break the previous low.

At the H1 chart, the pair is attempting to stay below the 6/8 level. If later the market is able to stay below the 5/8 level, I’m planning to open one more sell order. The closest target is at the 2/8 level; after reaching it, the price may start a new local correction.

RoboForex Analytical Department

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