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Murrey Math Lines 05.10.2017 (EUR/USD, USD/CHF)

05.10.2017

EUR USD, “Euro vs. US Dollar”

As we can see at the H4 chart, the EUR/USD pair has rebounded from the support at the 0/8 level at 1.1718 and, according to the forecast, must reach its first target at the 3/8 one at 1.1901. Unfortunately, the price is too weak to break the resistance at the 1/8 level at 1.1779. However, if the price does break it, the pair will continue growing towards 1.1901. But if the price breaks the support at the 0/8 level, the instrument may continue falling towards the -2/8 one at 1.1596.

At the H1 chart, there are scenarios for more aggressive trading. One may consider opening positions in advance, before the pair breaks the 0/8 level. In this case, short positions may be opened when the price breaks the 1/8 level at 1.1749 and place the Stop Loss below it as the pair is getting closer to the 0/8 one. However, if the price breaks the 0/8 level at 1.1718, the instrument will continue falling towards 1.1596.

 

USD CHF, “US Dollar vs Swiss Franc”

At the H4 chart, the USD/CHF pair is trading close to the resistance at the 8/8 level at 0.9765. the price has already tested this level several times but failed to break it. Later, the instrument may rebound from this level and resume moving downwards to reach the 5/8 one at 0.9582.

As we can see at the H1 chart, the pair is also trading near the resistance at the 8/8 level (0.9765). the price is expected to test this level once again, rebound from it, and then continue falling towards 0.9582.

 

RoboForex Analytical Department

 

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.


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