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Murrey Math Lines 23.06.2016 (EUR/USD, USD/CHF)

Analysis for June 23rd, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar hasn’t been able to break the 6/8 level again, which means that the pair may fall a bit. Consequently, the price may start a short-term decline towards the 4/8 level. In case if level is broken, the market will continue falling towards the previous low.

At the H1 chart, the pair hasn’t been able to stay above the 2/8 level for the second time. As a result, bears may return to the market. The closest target is at the 0/8 level. If later the market breaks it, the pair may continue falling towards the -2/8 level.

USD CHF, “US Dollar vs Swiss Franc”

Franc has already rebounded from the 1/8 level several times. This is why, during the day the price is expected to start an ascending correction. If later the pair breaks the daily Super Trend, it may move upwards to reach the 4/8 level.

At the H1 chart, the price is trying to rebound from the 1/8 level as well. The pair may start a new bullish correction only after it stays above Super Trends. If later the market breaks the 4/8 level, Franc will continue growing much higher.

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