Murrey Math Lines 08.09.2014 (EUR/USD, AUD/JPY)

Analysis for September 8^th, 2014

EUR USD, “Euro vs US Dollar”

Eurodollar keeps balancing near the upper border of “oversold zone”; bears are supported by the H4 Super Trend. The target for the next several days is still at the -2/8 level.



At the H1 chart, the situation is similar. The price is supported by the 1/8 level, from which it rebounded last Friday. If later the pair breaks the -2/8 level, the lines at the chart will be redrawn.

AUD JPY, “Australian Dollar vs Japanese Yen”

The pair is consolidating near the H4 Super Trend, from which the market has already resumed growth several times. Considering that the price is moving at the 6/8 level where reverses hardly ever occur, we can’t rule out the possibility that bulls may again keep control over the situation and the pair may reach another new high.



At the H1 chart, the market is about to enter “overbought zone”; the price is supported by the 7/8 level and the H1 Super Trend. It is likely that the price may break the 8/8 level and stay above it during Monday.



 
RoboForex Analytical Department