Murray Math Lines 07.08.2014 (AUD/USD, EURGBP)

Analysis for August 07^th, 2014

AUD USD, “Australian Dollar vs US Dollar”

AUDUSD has pulled back from daily Supertrend, my take-profit order for short-term long trade was executed. Support is also provided by 3/8 level. It’s not excluded that decline would be resumed and price will break out 0/8 level and enter «oversold area».



At H1 chart we might see that Supertrend lines are influenced by the «Bullish cross». However, there is a significant probability of acceptance below those lines, which can be a signal for entry.


 

EUR GBP (“Euro vs British Pound”)

This pair was unable to hold above 5/8, but also it was unable to hold below Supertrend lines that have formed «bearish cross». If price will break 3/8, odds are high that 0/8 level can be visited.



At H1 chart market is trading between all levels. As pullback from 3/8 has occurred, 5/8 level can be tested as well. In case price pulls back from this level (5/8), it can be a trigger for a new bearish rally.

RoboForex Analytical Department