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Murrey Math Lines 18.11.2016 (EUR/USD, USD/CHF)

Analysis for November 18th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still moving downwards inside the “oversold zone”. Earlier, Super Trends formed “bearish cross”. As a result, in the nearest future the price may continue its descending movement towards the -2/8 level.

The lines at the H4 and H1 charts are completely the same. The pair is still moving below Super Trends. If later the price rebounds from the -2/8 level, the lines at the chart will be redrawn.

USD CHF, “US Dollar vs Swiss Franc”

The USD/CHF pair is getting closer to the 3/8 level. After reaching it, the price may start a new descending correction. Moreover, taking into account that this level matches the 7/8 one from the daily chart, a possibility of a new descending correction is increasing.

At the H1 chart, the pair rebounded from Super Trends and started growing again. Yesterday, the price reached a new local high. To confirm a new correction, the market has to break Super Trends and fix below them.

RoboForex Analytical Department

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