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Murrey Math Lines 16.10.2015 (EUR/USD, AUD/USD)

Analysis for October 16th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is moving between Super Trends. If the price is able to stay below the 6/8 level, it will continue falling towards the daily Super Trend. If the market breaks it, the price may fall much deeper.

As we can see at the H1 chart, Super Trends have formed “bearish cross”. if later the pair breaks the 3/8 level and stays below it, the market will continue moving downwards. In this case, the closest target will be at the 1/8 level.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar has rebounded from the 8/8 level and right now is trying to stay below Super Trends. If later the price breaks the 6/8 level, the market will continue falling towards the 4/8 one.

The situation at the H1 chart is the same. Super Trends are forming “bearish cross”. It’s highly likely that the market may test the 4/8 level quite soon. If the pair breaks this level, it may continue falling much deeper.

RoboForex Analytical Department

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