Murrey Math Lines 03.12.2015 (EUR/USD, SILVER)
03.12.2015
Analysis for December 3rd, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still moving at the bottom of the H4 chart. Possibly, in the nearest future the local correction may continue. Later, the market may resume falling to reach and break the -2/8 level.
As we can see at the H1 chart, the price has rebounded from the 0/8 level twice, that’s why the correction may yet continue. Probably, the pair may test the 5/8 level. If the market rebounds from it, the price may start a new descending movement.
XAG USD, “Silver vs US Dollar”
After rebounding several times from the H4 Super Trend, Silver has resumed its decline. In the future, the price is expected to complete the local correction and then continue falling. The closest target is at the 3/8 level.
At the H1 chart, the price has been able to stay under the 3/8 level, which means that it may continue moving downwards. If later the market rebounds from the 0/8 level, it may start an ascending correction.
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