5:25 PM
Murrey Math Lines (EUR/USD, AUD/USD
Forex Trading | Forex News Daily Update |FXTM Online Analysis Department.
Euro vs US Dollar
The market continues reaching new lows. Earlier, Eurodollar rebounded from the 6/8 level several times and resumed moving downwards. Considering that the price has been able to stay below the 3/8 level, it may continue falling towards the 0/8 one.
As we can see at the H1 chart, after testing the -2/8 level the price may start a local correction. Super Trends provide support. If the price breaks the -2/8 level, the lines at the chart will be redrawn.
Australian Dollar vs US Dollar
Finally, Australian Dollar was supported by the daily Super Trend and the 2/8 level. The closest target is still at the -2/8 level. After reaching it, the pair may start a new correction.
At the H1 chart, the pair is moving at the bottom. If later the market is able to stay below the 0/8 level, I’m planning to open another sell order. The closest target is at the -2/8 level; after the pair breaks it, the lines at the chart will be redrawn again.
Forex Trading | Forex News Daily Update |FXTM Online Analysis Department.
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