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Murrey Math Lines 04.02.2016 (EUR/USD, USD/CHF)

Analysis for February 4th, 2016

EUR USD, “Euro vs US Dollar”

In case of Eurodollar, the price continues moving upwards quite fast and this growth is supported by the H4 Super Trend. However, the 8/8 level may provide resistance to this rally. If the pair rebounds from this level, it may start a new descending correction.

The lines at the H4 and H1 charts are completely the same. In order to start a new correction, the pair has to break Super Trends and stay below them. As soon as it happens, the price may start falling towards the 6/8 level.

USD CHF, “US Dollar vs Swiss Franc”

At the H4 chart, Super Trends have formed “bearish cross”. The closest target for bears is at the 3/8 level. If the pair rebounds from this level upwards, it may start a new local correction.

At the H1 chart, Franc has rebounded from the H1 Super Trend and the 2/8 level. It’s highly likely that the market may break the minimum quite soon. The closest target for bears is at the -2/8 level.

RoboForex Analytical Department

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