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Murray Math Lines 05.09.2016

Murray Math Lines 05.09.2016

EUR USD, "Euro vs. US Dollar"

Last Friday a rebound from daily Super Trend and Murrey 4/8 level happened, and this suggests possible continuation of the decline. The nearest bearish target is 1/8 level. When the price reaches it, start of a rising correction is possible.

After the rebound from 4/8 8 the Super Trend lines formed a “bearish cross”. If the price is able to hold under the 2/8, 8 during the day, the most probable scenario will be a continuation of the currency pair decline towards the Murrey level 2/8.

USD CHF "USD vs. Swiss Frank"

At the end of the last week the Frank formed a rebound from the 4/8 level, but the pair failed to hold above the 4-H Super Trend. If the price does this eventually during Monday, it may rise towards the 7/8 level.

On 1-H chart, the market is consolidating in the "overbought zone". As soon as the price holds above the Super Trend lines, the uptrend can resume. Afterwards, if the 2/8 level is broken, this can lead to complete reformation of the Murrey indication on the chart.

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