Murrey Math Lines 08.10.2014 (EUR/USD, AUD/JPY)
08.10.2014
Analysis for October 8th, 2014
EUR USD, “Euro vs US Dollar”
Eurodollar is still consolidating inside “oversold zone”. In addition to that, Super Trends are still influenced by “bearish cross”. If the price breaks the H4 Super Trend during the day and stays below it, I’m planning to increase my short position.
As we can see at the H1 chart, the pair is getting closer to the 8/8 level. Possibly, it my rebound from this level and resume falling. Another signal to confirm a new descending movement is Super Trends’ returning into “red zone”.
AUD JPY, “Australian Dollar vs Japanese Yen”
The pair has broken a local minimum, allowing me to move the stop loss on my sell order to breakeven. Possibly, in the nearest future the price may break the -2/8 level. In this case, the lines at the chart will be redrawn.
At H1 chart, the pair is trying to stay below the 3/8 level, which means that the market may continue falling towards the 0/8 one. If it breaks this level, the price may fall much lower.
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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.