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Murrey Math Lines 15.12.2016 (EUR/USD, AUD/USD)

Analysis for December 15th, 2016

EUR USD, “Euro vs US Dollar”

Yesterday, after rebounding from the daily Super Trend twice, the EUR/USD pair updated its yearly lows. Considering that the price failed to break the 2/8 level, in the nearest future the local correction may take place, which may be followed by another decline towards the 0/8 level.

At the H1 chart, the pair reached the 0/8 level and rebounded from it. Super Trends formed “bearish cross”.  On Thursday, the price may start a new local correction with the target at the 1/8 level.

AUD USD, “Australian Dollar vs US Dollar”

The AUD/USD pair rebounded from the 3/8 level several times and then started falling. Possibly, later the price may test the 2/8 level. If the pair rebounds from this level, the market will continue falling to reach the -1/8 one.

At the H1 chart, the pair rebounded from the 1/8 level and then started falling, but was later stopped by the 0/8 one. During the day, the price may be corrected towards the 4/8 level. If later market rebounds from this level, bears will attempt to start another decline.

RoboForex Analytical Department

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