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Murrey Math Lines 15.08.2016 (EUR/USD, AUD/USD)

Analysis for August 15th, 2016

EUR USD, “Euro vs US Dollar”

Last Friday, the EUR/USD pair rebounded from the 7/8 level, which means that it may resume falling. The closest target for bears is at the 3/8 level and the daily Super Trend. If the price breaks these levels, the market will continue falling much deeper.

The lines at the H4 and H1 charts are completely the same, and it makes the 7/8 level even more important. Consequently, quite soon the pair may break the local low. I’m holding one sell order so far, but if Super Trends form “bearish cross” I’m planning to another short position.

AUD USD, “Australian Dollar vs US Dollar”

After rebounding from the 7/8 level twice, the AUD/USD pair is moving between Super Trends. It’s highly likely that in the nearest future the market may start falling towards the 4/8 level. If later the price breaks this level, the pair will continue moving downwards much deeper.

As we can see at the H1 chart, Super Trends have formed “bearish cross”. Earlier, the pair rebounded from the 6/8 level. Considering that the market is already moving under the 3/8 level, it may continue falling.

RoboForex Analytical Department

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