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Murrey Math Lines 01.12.2016 (EUR/USD, EUR/JPY)

Analysis for December 1st, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still being corrected between Super Trends. It’s highly likely that in the nearest future the market may break the daily Super Trend and test the 0/8 level. In case later the price rebounds from this level, it may resume moving downwards. 



At the H1 chart, the pair is moving in the middle. The closest target for bulls is at the 7/8 level. In case the price breaks this level, it may continue growing to reach the 8/8 one.




EUR JPY, “Euro vs Japanese Yen”

The EUR/JPY pair continues moving upwards steadily. Earlier, the price rebounded from the 4/8 level and the H4 Super Trend, thus breaking the high. As a result, in the nearest future the market may continue moving upwards to reach 7/8 level.



As we can see at the H1 chart, the pair is trying to fix above the 3/8 level. Earlier, Super Trends formed “bullish cross”. Consequently, in the nearest future the market may grow to reach the 5/8 level. After reaching it, the pair may start a new local correction.



 
RoboForex Analytical Department

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