Murrey Math Lines 03.05.2016 (EUR/USD, USD/CHF)
03.05.2016
Analysis for May 3rd, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar continues moving upwards and has already reached the 6/8 level, which may be a starting point of a new correction. Earlier, Super Trends formed “bullish cross”. On Tuesday, the pair may be corrected, but later it is expected to continue growing towards the 8/8 level.
The lines at the H4 and H1 charts are completely the same. Bulls are supported by Super Trends, which may be the target of the possible descending correction. In case the market rebounds, I’m planning to open another buy order.
USD CHF, “US Dollar vs Swiss Franc”
After Super Trends had formed “bearish cross”, the market started falling faster. The price may start a new local correction from the 3/8 level, but later it is expected to continue moving downwards to reach the 0/8 one.
The lines at the H4 and H1 charts are completely the same. Probably, on Tuesday Franc may test Super Trends one more time. If the price rebounds from them again, the market may start a new descending movement.
RoboForex Analytical Department
Attention!
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.