Murrey Math Lines: EUR/USD, USD/CHF

RoboForex Team RoboForex

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.

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RoboForex Team

RoboForex

RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.

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