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Murrey Math Lines 15.11.2016 (EUR/USD, AUD/USD)

Analysis for November 15th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair reached the 0/8 level and started a new ascending correction with the closest target at the 1/8 level and the H4 Super Trend. If the price rebounds from these levels, it may resume falling towards the -2/8 one. However, if the price is able to fix above the 1/8 level, the correction may continue towards the 2/8 one.

The lines at the H4 and H1 charts are completely the same. However, to confirm that the correction completed, the market has to fix below the H1 Super Trend. Until that, the risks of the further growth of the price are quite high.

AUD USD, “Australian Dollar vs US Dollar”

At the H4 chart, the AUD/USD pair is still influenced by “bearish cross” formed earlier. If the price manages to fix below the 4/8 level, the market may continue its descending movement towards the 2/8 one.

At the H1 chart, the pair is consolidating inside the “oversold zone”. If the price may stays below the 0/8 level and the H1 Super Trend, then in the nearest future the market may fall to break the -2/8 one. If it happens, the lines at the chart will be redrawn.   

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