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Murrey Math Lines 28.10.2016 (EUR/USD, USD/CHF)

Analysis for October 28th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still being corrected between Super Trends. It’s highly likely that in the nearest future the market may update its local highs and test the H4 Super Trend.  If the price rebounds from it, the pair may resume its descending movement towards the 0/8 level.

At the H1 chart, Super Trends formed “bullish cross”, which means that the current correction may continue. The closest target is at the 7/8 level. If the pair rebounds from this level, the market may resume falling.

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is consolidating below the 7/8 level. If later the price rebounds from the 6/8 level, it may continue moving upwards. In this case, the closest target for bulls will be at the 1/8 level.

At the H1 chart, the pair rebounded from the 7/8 level and started consolidating close to Super Trends. It’s highly likely that during the day the price may test the 4/8 level. If it rebounds from this level, the market will resume its ascending movement.

RoboForex Analytical Department

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