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Murrey Math Lines 05.02.2016 (EUR/USD, USD/CHF)

Analysis for February 5th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar has reached the 8/8 level and started a new local correction. If this descending movement is supported by the H4 Super Trend, the market may resume growing. in this case, the target will be at the 1/8 level.

The lines at the H4 and H1 charts are completely the same. The current ascending movement is supported by Super Trends. If later the price breaks the 8/8 level and stays above it, the market will continue moving upwards.

USD CHF, “US Dollar vs Swiss Franc”

After rebounding from the 4/8 level, Franc has started falling. Yesterday, Super Trends formed “bearish cross”. In the nearest future, the pair may continue moving downwards. If later the price rebounds from the 1/8 level fast, it may start a new ascending correction.

At the H1 chart, Franc is supported by Super Trends. This morning, the market has already broken yesterday’s low, and may reach the 1/8 level until the end of this trading week.

RoboForex Analytical Department

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