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Murrey Math Lines 22.09.2016 (EUR/USD, AUD/USD)

Analysis for September 22nd, 2016

EUR USD, “Euro vs US Dollar”

Yesterday, the EUR/USD pair failed to stay under the 3/8 level and started a fast growth. The price has already broken the daily Super Trend and the 4/8 level, and it is able to fix above them, the market will continue growing towards the 5/8 one.

At the H1 chart, the pair is trying to fix inside the “overbought zone”. If later the price rebounds from the 1/8 level, the market may start a new correction with the target at the 8/8 one.

AUD USD, “Australian Dollar vs US Dollar”

After rebounding twice from the 2/8 level, the AUD/USD pair started a correction as well, and, as a result, Super Trends formed “bullish cross”. However, if later the price rebounds from the 6/8 level, the market may start a new local correction towards the 5/8 one.

At the H1 chart, the closest target is at the 8/8 level. If the pair bounces from this level, it may start a new descending correction. However, if later the market rebounds from the 6/8 level upwards, the price will continue growing and break the 8/8 one.

RoboForex Analytical Department

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