Forex Murray math lines and forecasts
One of the key factors, which has influence on any trader’s success is his ability to correctly predict the market movements. The two main methods are technical and fundamental analysis of Forex market.
An important feature of fundamental analysis is its global nature. Events, which are analyzed in fundamental analysis, have long-term influence on supply and demand on the currency market. This information is composed of the news about the world’s biggest political and financial events. It’s hard to overestimate the influenced the news has on financial markets: when the most important news is published, the market volatility increases.
It’s quite easy for an experienced trader to analyze and predict how a single event may influence the market. However, analysis of several events, which may influence the market in completely different ways, is a very complicated and time-consuming process. This may be the reason why only approximately 20% of traders use fundamental analysis as their main forecasting tool.
Fundamental approach to Forex market analysis, unlike technical one, covers not only the prices and their changes, but the reasons for these changes as well. Each approach has its followers, advantages and disadvantages.
After consolidating for a while near the 4/8 level, the EUR/USD pair continued its decline.
After rebounding from the H4 Super Trend, the EUR/USD pair fixed below the 4/8 level.
Yesterday, the ascending correction “died out” and the EUR/USD pair fixed below the H4 Super Trend.
The EUR/USD pair couldn’t stay under the 4/8 level after all and started the current ascending correction.
The EUR/USD pair is being corrected at the 4/8 level.
Yesterday, the EUR/USD pair rebounded from the 4/8 level and started an ascending correction.
The NZD/USD pair is moving inside the “oversold zone” under the 0/8 level.
The EUR/USD pair continued its decline and, as a result, the lines at the chart were redrawn.
Earlier, the EUR/USD pair rebounded from the 0/8 level and right now it is testing this level one more time.
Last Friday, the EUR/USD pair rebounded from the 0/8 level and, as a result, started growing very fast.
The USD/CHF pair is moving inside the “overbought zone” steadily; Super Trends formed “bullish cross”.
The EUR/USD pair is still consolidating.
Yesterday, the EUR/USD pair couldn’t stay below the 2/8 level and, as a result, returned to the 4/8 level and Super Trends.
The EUR/USD pair is testing the 2/8 level again.
The EUR/USD pair rebounded from the 2/8 level and right now is moving in the middle of the H4 chart.