Murrey Math Lines 17.06.2016 (EUR/USD, AUD/USD)
17.06.2016
Analysis for June 17th, 2016
EUR USD, “Euro vs US Dollar”
The price hasn’t been able to stay below the 4/8 level and right now is moving above it again, thus thwarting bears’ plans. It’s highly likely that in the nearest future Eurodollar may reach the 5/8 level. if this level is broken, the market may continue growing faster towards the local high.
At the H1 chart, Eurodollar has left the “oversold zone”, and Super Trends may form “bullish cross” soon. Consequently, during the day the price may move towards the 2/8 level, where I’m planning to close my buy order.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar may also start a short-term grow at least. Yesterday, the pair rebounded from the 4/8 level, thus reducing bears’ chances to continue the current decline. If the price is able to stay above the H4 Super Trend during the day, the market will continue moving upwards to reach the 6/8 level.
At the H1 chart, the pair is moving between Super Trends. If the price stays above them, it will continue growing. The first target for bulls will be at the 5/8 level. If they break it and keep the price above, the market will continue moving upwards.
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