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Murrey Math Lines 14.11.2016 (EUR/USD, AUD/USD)

Analysis for November 14th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair reached the 1/8 level, but didn’t rebound from it. Earlier, the 1/8 level provided resistance and Super Trends formed “bearish cross”. As a result, after finishing the local correction, the market may reach the 0/8 level.

The lines at the H4 and H1 charts are completely the same. On Monday, the pair may be corrected with the target at the H4 Super Trend. If the price rebounds from it, the market may resume falling towards the 0/8 level.

AUD USD, “Australian Dollar vs US Dollar”

Super Trends formed “bearish cross” and the AUD/USD pair managed to fix below the 4/8 level. The short-term target is at the 3/8 level. If the price breaks it, the market may continue its descending movement towards the 2/8 one.

At the H1 chart, the pair is moving inside the “oversold zone”. On Monday, the price may test the 0/8 level. In case it rebounds from this level, the market may fall towards the -2/8 one. After breaking the latter level, the lines at the chart will be redrawn.   

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