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Murrey Math Lines 26.08.2016 (EUR/USD, AUD/USD)

Analysis for August 26th, 2016

EUR USD, “Euro vs US Dollar”

At the H4 chart, the EUR/USD pair is still moving between Super Trends. Considering that the price has rebounded from the 5/8 level, it may fall towards the 4/8 one and the daily Super Trend. If later the market breaks this levels, it continue moving downwards to reach the 3/8 one.

As we can see at the H1 chart, Super Trends are still influenced by “bearish cross”. If the pair is able to stay under the 2/8 level, it may start a new descending movement. The closest target is at the 0/8 level. After breaking it, the market may fall to reach the -2/8 one.

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair is still consolidating. Earlier, the price rebounded from the 7/8 level twice and started the current decline. If later the market is able to stay under the 5/8 level, it will continue moving downwards to reach the 3/8 one.

At the H1 chart, the pair is trading close to the 2/8 level. If the price is able to stay under this level during the day, it will resume falling. Later, after breaking the 0/8 level, the market may reach the -2/8 one.

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