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Murrey Math Lines 06.12.2016 (EUR/USD, AUD/USD

Analysis for December 6th, 2016

EUR USD, “Euro vs US Dollar”

Yesterday, the EUR/USD pair broke the daily Super Trend and the 0/8 level with a strong move. In the nearest future, the market may start a new correction. To confirm this scenario, the price has to fix below the 0/8 level. If it happens, the pair may start a short-term decline towards Super Trends.

At the H1 chart, Super Trends formed “bullish cross”. On Tuesday, the pair may reach a new local high and test the 2/8 level. Later, the price may start a new correction and break the 8/8 level.

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair rebounded from the daily Super Trend once again, which means that it may resume falling. To confirm this scenario, the price has to fix below the 2/8 level. In this case, the next target for bears will be at the 0/8 level.

At the H1 chart, the pair rebounded from the 7/8 level and then broke the H1 Super Trend. If later the price breaks the 3/8 level and stays below it, the market may continue falling towards the 0/8 one.  

RoboForex Analytical Department

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