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Murrey Math Lines 10.11.2016 (EUR/USD, AUD/USD)

Analysis for November 10th, 2016

EUR USD, “Euro vs US Dollar”

Yesterday, the bullish rally was stopped by the 1/8 level and the price rebounded from it. The pair plummeted and broke the daily Super Trend. On Thursday, the market may test the 4/8 level. If it rebounds from this level, the price may resume falling towards the 2/8 one.

At the H1 chart, Super Trends formed “bearish cross”. After finishing the local correction below the 4/8 level, the pair may test the 2/8 one. If the price breaks this level, the market may continue falling to reach the 0/8 one.

AUD USD, “Australian Dollar vs US Dollar”

At the H4 chart, the AUD/USD pair is consolidating between Super Trends. Earlier, it rebounded from the 7/8 level. It looks like very soon bears may try to test the 4/8 level again.

At the H1 chart, yesterday’s decline was stopped by the 1/8 level. In addition to this, Super Trends formed “bearish cross”, which means that the pair may continue moving downwards. If the price stays under the 4/8 level, then in the nearest future the market may fall towards the 0/8 one.

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