Murray Math Lines 12.08.2014 (EUR/USD, AUD/USD)
12.08.2014
Analysis for August 12th, 2014
EUR USD, “Euro vs US Dollar”
After rebounding from the daily Super Trend several times, Euro is starting to fall down. If the market breaks the 3/8 level downwards and stays below it, the pair will continue falling down towards the 0/8 one. However, if the price rebounds from the 1/8 level, the instrument may start a new ascending correction.
As we can see at the H1 chart, last week the price rebounded from the 8/8 level. Probably, Super Trends may form “bearish cross” in the nearest future. After that, I’ll open another sell order.
AUD USD, “Australian Dollar vs US Dollar”
After rebounding from the -1/8 level, Australian Dollar is testing the 0/8 one. Possibly, the price may rebound from this level again during Tuesday. In this case, I’m planning to increase my short position with the target at the -2/8 level.
The lines at the H4 and H1 charts are completely the same; Super Trends are still influenced by “bearish cross”. If later the price breaks the -2/8 level, the lines at the chart will be redrawn and we’ll have new targets.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.