Murray Math Lines 13.08.2014 (EUR/USD, AUD/USD)
13.08.2014
Analysis for August 13th, 2014
EUR USD, “Euro vs US Dollar”
Euro made another attempt to stay below the 3/8 level, but failed and started a new correction. Considering that earlier the price rebounded from the daily Super Trend several times, the pair is expected to continue falling down towards the 1/8 level. If the price breaks this level, the instrument may move downwards to reach the 0/8 one.
As we can see at the H1 chart, Super Trends formed “bearish cross”. Probably, the price may reach and test the 3/8 level during the day. If the pair rebounds from this level, Euro will start a new descending movement.
AUD USD, “Australian Dollar vs US Dollar”
Australian Dollar is already moving inside “oversold zone”. Bulls may yet try to break the 0/8 level, but the price is very unlikely to stay above it for a long time. The main target is still 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”. We should note, that if the price breaks the -2/8 level, the lines at the chart will be redrawn.
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