Murrey Math Lines: EUR/USD, USD/CHF
|EURUSD, “Euro vs US Dollar”
The EUR/USD pair reached the 4/8 level and the daily Super Trend. Consequently, on Thursday the local correction may take place, which may later be followed by a new descending movement towards the 3/8 level.
At the H1 chart, the pair reached the 0/8 level; it is still trading below Super Trends. As a result, during the day the price may test the 1/8 level. If later the pair rebounds from this level, the market may resume moving downwards.
USDCHF, “US Dollar vs Swiss Franc”
The USD/CHF pair rebounded from the 1/8 level and, as a result, started growing quickly. On Thursday, the price may test the 3/8 level. If the pair rebounds from it, the market may start growing towards the 5/8 one.
At the H1 chart, the 7/8 level provided resistance. Consequently, in the nearest future the local correction may take place. If later the price rebounds from the 6/8 level, the market may resume moving upwards to reach the +1/8 one.
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