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Murrey Math Lines 21.09.2016 (EUR/USD, USD/CHF)

Analysis for September 21st, 2016

EUR USD, “Euro vs US Dollar”

After failing to break the H4 Super Trend, the EUR/USD pair reached a new local low. On Wednesday, the local correction with the target at the 3/8 level may take place. If the market rebounds from this level, it will resume falling to reach the 1/8 one.

At the H1 chart, Super Trends are still influenced by “bearish cross”. The pair couldn’t stay under the 5/8 level and started a new local correction. If later the price rebounds from the 6/8 level, the market will start a new descending movement.

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is moving inside the “overbought zone”. It’s highly likely that during the day the price may test the 8/8 level one more time. If the market rebounds from this level, it may resume moving upwards. The closest target is at the 2/8 level.

At the H1 chart, the situation is similar. To confirm a new growth, the pair has to fix above Super Trends. As soon as it happens, I’m planning to increase my long positions.

RoboForex Analytical Department

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