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Murrey Math Lines 21.10.2015 (EUR/USD, AUD/USD)

Analysis for October 21st, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is still being corrected. If later the price is able to stay below the H4 Super Trend and the 6/8 level, I’m planning to increase my short position. The closest target is at the 4/8 level.

At the H1 chart, the price is moving in the middle. Possibly, the pair may try to test the 5/8 level during the day. If the market rebounds from this level, it may resume falling and reach a new local low.

AUD USD, “Australian Dollar vs US Dollar”

In case of Australian Dollar, Super Trends have formed “bearish cross”.  Earlier, the pair rebounded from the 8/8 level twice. If later the price breaks the daily Super Trend, the market will continue falling towards the 4/8 level.

At the H1 chart, the price is moving in the middle. It’s highly likely that the market may break the 4/8 level in the nearest future and then continue falling. I’m planning to open another sell order during the next correction.

RoboForex Analytical Department

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