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.
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.
Eurodollar is still being corrected and moving above Super Trends, that’s why I’ve got no open orders right now.
Eurodollar is consolidating close to Super Trends, which may soon form “bearish cross” to confirm a new decline of the price.
Eurodollar is moving close to the daily Super Trend. I
Eurodollar has reached the daily Super Trend.
Eurodollar hasn’t been able to stay above the 2/8 level and right now is moving under this level again below the H4 Super Trend.
Eurodollar is trying to break the 2/8 level.
At the end of the last week, Eurodollar tried to break the 2/8 level once again, but wasn’t able to stay above it and right now is already moving below the H4 Super Trend.
New Zealand Dollar has rebounded from the 7/8 level four times, which means that it may start a descending correction, at least.
Eurodollar has rebounded from the 2/8 level twice, which means that it may resume moving downwards.
Eurodollar is moving towards the 2/8 level.
After rebounding from the 2/8, Eurodollar has started a new correction.