Murrey Math Lines 30.06.2016 (EUR/USD, USD/CHF)
30.06.2016
Analysis for June 30th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has rebounded the H4 Super Trend, thus continuing the current ascending correction. The closest target for bulls is at the 3/8 level. If the price rebounds from it, the market may resume moving downwards.
At the H1 chart, Super Trends have formed “bullish cross”. It’s highly likely that during the day the price may reach a new local high. If later the market breaks the 3/8 level and stays above it, bulls will continue forming the ascending correction.
USD CHF, “US Dollar vs Swiss Franc”
Franc has broken the 4/8 level, but hasn’t been able to stay above the 5/8 one. If in the nearest future the price is supported by the 4/8 level and rebounds from it, the market may continue growing. In this case, the next target will be at the 7/8 level.
At the H1 chart, Franc is moving inside the “overbought zone”. Earlier, the price rebounded from the +1/8 level, and if it rebounds from the 8/8 one in the future, the market may resume moving upwards. In this case, later the pair may break the +2/8 level and the lines at the chart will be redrawn.
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