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Murrey Math Lines 10.03.2016 (EUR/USD, AUD/USD)

Analysis for March 10th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is still consolidating near Super Trends, which are still influenced by “bullish cross”. In the nearest future, the pair may grow towards the 5/8 level. If later the price rebounds from this level, the market may resume its decline.

At the H1 chart, the pair is moving in the middle. If later the price is able to stay above the 5/8 level, it may continue growing towards the 8/8 one. It’s highly likely that during the day the pair will try to stay above Super Trends.

AUD USD, “Australian Dollar vs US Dollar”

Australian Dollar is moving upwards very fast and reaching one new high after another. Considering that the market is already above the 5/8 level, it’s highly likely that it will continue growing. The closest target is at the 8/8 level.

As we can see at the H1 chart, the pair hasn’t been able to stay above the 7/8 level and started a new correction. If the price breaks the above-mentioned level in the nearest future and stays above it, the market may resume its ascending movement.

RoboForex Analytical Department

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