Murrey Math Lines 20.01.2016 (EUR/USD, EUR/JPY)
20.01.2016
Analysis for January 20th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar is still consolidating. In the nearest future, the price may return to Super Trends. If the market breaks them, the pair will continue falling towards the 0/8 level.
At the H1 chart, Eurodollar has rebounded from the 1/8 level, which means that it may fall towards the 4/8 one. If the price breaks this level and Super Trends form “bearish cross”, the pair will continue falling much deeper.
EUR JPY, “Euro vs Japanese Yen”
At the H4 chart, the pair is trying to stay inside “oversold zone”. The closest target for bears is at the -2/8 level. If they break this level, the lines at the chart will be redrawn.
As we can see at the H1 chart, Super Trends have formed “bearish cross”. On Wednesday, the market may fall towards the 4/8 level. If the price breaks this level, the pair will continue moving downwards.
RoboForex Analytical Department
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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.