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Murrey Math Lines 22.08.2016 (EUR/USD, AUD/USD)

Analysis for August 22nd, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair has broken the 5/8 level along with the H4 Super Trends, which means that it may continue moving downwards. The closest target is at the 4/8 level, which is confirmed by the daily Super Trend. If the price breaks it, the market will continue falling towards the 3/8 level.

At the H1 chart, Super Trends have formed “bearish cross”. Earlier, the price rebounded from the 2/8 level. It’s highly likely that during the day the pair may test the 0/8 level. If the price rebounds from this level, the market may start a new correction.

AUD USD, “Australian Dollar vs US Dollar”

After rebounding from the 7/8 level three times, the AUD/USD pair resumed falling. Considering that the price has broken the daily Super Trend, it may continue moving downwards. The closest target for bears is at the 3/8 level.

At the H1 chart, the pair is moving at the top. Earlier, Super Trends formed “bearish cross”. Consequently, if the price breaks the 0/8 level, the first target will be at the -2/8 one. In case this level is broken as well, the lines at the chart will be redrawn.

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