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Murrey Math Lines 04.11.2016 (EUR/USD, USD/CHF)

Analysis for November 4th, 2016

EUR USD, “Euro vs US Dollar”

Yesterday, the EUR/USD pair rebounded from the H4 Super Trend, which means that it may continue growing. The closest target is at the 7/8 level. If later the price rebounds from this level, the market may start a new descending correction.

At the H1 chart, the pair couldn’t fix below the 7/8 level. It’s highly likely that in the nearest future bulls may try to break the 8/8 level. If they succeed and the price fixes above this level, the market will continue growing to reach the 2/8 one.

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is moving in the middle of the chart below the 4/8 level. If the price breaks the H4 Super Trend in the nearest future, the instrument will continue moving to reach the closest target at the 2/8 level.

At the H1 chart, the pair is moving inside the “oversold zone”. To confirm a new descending movement, the price has to fix below Super Trends. If it happens, bears may test the -2/8 level quite soon.

RoboForex Analytical Department

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