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.
In case of Eurodollar, the flat continues and the wave structure is becoming more and more complicated.
Eurodollar is still moving sideways.
After rebounding from the H4 Super Trend, New Zealand Dollar is trying to stay under the 3/8 level.
At the H4 chart, New Zealand Dollar is moving in the middle.
Eurodollar is still being corrected.
After rebounding from the 0/8 level, Eurodollar is attempting to resume its growth.
The lines at the daily and H4 charts are completely the same.
After rebounding from the 0/8 level twice, Eurodollar has started an ascending correction.
At the H4 chart, Eurodollar is trying to stay below the 0/8 level.
As we can see at the H4 chart, Super Trends have formed “bearish cross”.
As we can see at the H4 chart, after rebounding from the 2/8 level several times, Eurodollar has resumed its decline.
As we can see at the daily chart, Eurodollar has rebounded from the -2/8 level and been able to stay above the daily Super Trend.
Eurodollar is moving inside a narrow trading range.
At the H1 chart, Eurodollar is moving in the middle.
The Euro Dollar has formed a retreat from the 2/8 level. If subsequently the price consolidates below the four-hour SuperTrend, it will be the first signal for the resumption of the downward movement.