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 a fast ascending movement, Eurodollar has started a correction.
Eurodollar is moving above Super Trends, which means that the ascending correction may continue.
After rebounding from the 4/8 level, Eurodollar has started consolidating.
Earlier, Eurodollar managed to stay under Super Trends, which may form “bearish cross” quite soon.
At the H1 chart, Eurodollar has rebounded from the 7/8 level and started moving downwards.
Eurodollar is still consolidating above the 5/8 level and the H4 Super Trend.
Eurodollar is still consolidating above the 5/8 level.
Eurodollar is still consolidating; bulls are supported by the H4 Super Trend and the 5/8 level.
At the H1 chart, Super Trends are influenced by “bullish cross”.
In case of Eurodollar, the current situation is very important.
The market is moving close to the H4 Super Trend.
The local ascending tendency continues.
Eurodollar has been able to stay above the 5/8 level, which means that the pair may continue moving upwards.
Eurodollar continues growing and right now bulls are trying to keep the price above the 5/8 level.
Eurodollar is again moving inside the “overbought zone”, between the +1/8 and +2/8 levels.