Murrey Math Lines: EUR/USD, USD/CHF
|EURUSD, “Euro vs US Dollar”
The EUR/USD pair rebounded from the 4/8 level, which means that it may resume moving downwards. The closest target for bears is at the 2/8 level. After reaching this level, the market may start a new local correction.
At the H1 chart, the 8/8 level provided resistance. To confirm a new decline, Super Trends have to form “bearish cross”. If they do, the market will continue falling to reach the 4/8 level.
USDCHF, “US Dollar vs Swiss Franc”
The USD/CHF pair rebounded from the 3/8 level. If the price breaks Super Trends and stays above them in the nearest future, the market may move upwards to reach the 7/8 level.
As we can see at the H1 chart, after rebounding from the 2/8 level, the pair returned to the 3/8 one. It’s highly likely that on Friday Super Trends may form “bullish cross”. In this case, the market may continue moving upwards to reach the 6/8 level.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.