Murrey Math Lines 12.10.2015 (EUR/USD, USD/ZAR)
12.10.2015
Analysis for October 12th, 2015
EUR USD, “Euro vs US Dollar”
The local growth continues. Probably, in the nearest future bulls may try to test the 8/8 level. If the price rebounds from this level, the market may resume moving downwards.
At the H1 chart, the pair is supported by Super Trends. Considering that the price has been able to stay above the 2/8 level, the closest target is at the 4/8 one. The future scenario depends on how the price will move at the latter level.
USD ZAR, “US Dollar vs South African Rand”
As we can see here, South African Rand continues falling in the middle of the chart. Earlier, Super Trends formed “bearish cross”. On Monday, the market may break the low and test the 3/8 level.
At the H1 chart, the pair has rebounded from Super Trends. The closest target is at the -2/8 level. If the price breaks this level, the lines at the chart will be redrawn.
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