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Murrey Math Lines 16.11.2016 (EUR/USD, USD/CHF)

Analysis for November 16th, 2016

EUR USD, “Euro vs US Dollar”

After rebounding from the H4 Super Trend, the EUR/USD pair is again trying to fix below the 0/8 level. If bears succeed, the price may resume its descending movement towards the -2/8 level.

The lines at the H4 and H1 charts are completely the same. Yesterday, the pair rebounded from the 1/8 level and started a new decline. I’m planning to start selling with the target at the -2/8 level as soon as the market fixes below the H1 Super Trend.

USD CHF, “US Dollar vs Swiss Franc”

Yesterday, the USD/CHF pair rebounded from the H4 Super Trend and right now is testing the 8/8 level. If the price manages to stay above this level, the market will continue moving upwards to reach the closest target at the 2/8 one.

At the H1 chart, the pair is being corrected between Super Trends. As s result, to resume moving upwards, the price has to fix above the 8/8 level and the H1 Super Trend. As soon as it happens, I’m planning to open another buy order.

RoboForex Analytical Department

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