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.
The correction continues.
Eurodollar is still consolidating between Super Trends.
Eurodollar is still moving between Super Trends under the 4/8 level.
New Zealand Dollar hasn’t been able to break the 3/8 level yet, which means that it may start an ascending correction.
Eurodollar has been able to stay under the 4/8 level; the H4 Super Trend has moved into “red zone”.
Eurodollar has broken the 4/8 level and right now is trying to stay under it.
Eurodollar is consolidating near the H4 Super Trend.
Eurodollar is consolidating near the 5/8 level.
Eurodollar continues growing.
Eurodollar has been able to stay under the H4 Super Trend and the 3/8 level as well.
Yesterday, Eurodollar broke the H4 Super Trend and stayed below it.
After making a fast ascending movement last week, Eurodollar is consolidating.
After rebounding from the 1/8 level twice, Eurodollar started a fast growth.
Eurodollar is still consolidating near Super Trends, which are still influenced by “bullish cross”.
Yesterday, bears returned to the market and stopped the correction.