Murrey Math Lines: EUR/USD, AUD/USD
|Analysis for September 23rd, 2016
EURUSD, “Euro vs US Dollar”
Yesterday, the EUR/USD pair failed to stay under the daily Super Trend and the 4/8 level and started a new local correction. However, is later the price rebounds from the 3/8 level, the market will resume growing and may reach the 5/8 one.
At the H1 chart, the pair is consolidating between Super Trends. The closest target of the current local correction is at the 6/8 level. If later the price rebounds from it, the market may start a new ascending movement and break the previous high.
AUDUSD, “Australian Dollar vs US Dollar”
At the H4 chart, Super Trends formed “bullish cross”. If later the AUD/USD pair is able to stay above the 5/8 level, the market may move upwards a bit to reach the 6/8 one.
After rebounding from the 7/8 level, the pair started a new descending correction. To confirm a new growth, the price has to fix above the 6/8 level. If it happens, the market will continue growing to reach the 8/8 one.
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