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Murrey Math Lines 29.09.2016 (EUR/USD, AUD/USD)

Analysis for September 29th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still consolidating in the middle of the chart below Super Trends, which are still influenced by “bearish cross”. It’s highly likely that in the nearest future the market may resume falling. The closest target is at the 1/8 level.

At the H1 chart, the pair rebounded from the 8/8 level twice, which means that in the short-term it may fall to reach the 5/8 one. If the market breaks the latter level, it may continue falling faster.

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair rebounded from the 8/8 level, and, as a result, the current growth was probably completed. The closest target is at the 5/8 level and the daily Super Trend. If the price breaks these levels, the market may continue moving downwards.  

The lines at the H4 and H1 charts are completely the same. It’s highly likely that on Thursday Super Trends may form “bearish cross”, thus confirming a new decline of the pair.

RoboForex Analytical Department

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