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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.

15.10.2015

Murrey Math Lines 15.10.2015 (EUR/USD, AUD/USD)

Eurodollar has rebounded from the 8/8 level, which means that it may resume falling.
14.10.2015

Murrey Math Lines 14.10.2015 (EUR/USD, AUD/USD)

Eurodollar is trying to rebound from the 7/8 level.
13.10.2015

Murrey Math Lines 13.10.2015 (EUR/USD, SILVER)

As we can see at the H4 chart, Silver is moving below Super Trends again.
12.10.2015

Murrey Math Lines 12.10.2015 (EUR/USD, USD/ZAR)

The local growth continues.
09.10.2015

Murrey Math Lines 09.10.2015 (EUR/USD, USD/CHF)

After reaching a new local high, Eurodollar is moving near the 6/8 level.
08.10.2015

Murrey Math Lines 08.10.2015 (EUR/USD, USD/CHF)

Eurodollar is still moving sideways.
07.10.2015

Murrey Math Lines 07.10.2015 (EUR/USD, USD/CHF)

Eurodollar is still consolidating.
06.10.2015

Murrey Math Lines 06.10.2015 (EUR/USD, GBP/USD)

Eurodollar has been able to stay under the 4/8 level; Super Trends are still influenced by “bearish cross”.
05.10.2015

Murrey Math Lines 05.10.2015 (EUR/USD, USD/ZAR)

As we can see at the H4 chart, South African Rand is testing the 6/8 level.
02.10.2015

Murrey Math Lines 02.10.2015 (EUR/USD, GBP/USD)

Pound is trying to break the 4/8 level.
01.10.2015

Murrey Math Lines 01.10.2015 (EUR/USD, GBP/JPY)

As we can see at the H4 chart, bears have tipped the scales in their favor and kept the price under Super Trends.
30.09.2015

Murrey Math Lines 30.09.2015 (EUR/USD, GBP/USD)

At the H1 chart, the price is moving close to the 4/8 level as well.
29.09.2015

Murrey Math Lines 29.09.2015 (EUR/USD, USD/CAD)

At the H4 chart, Eurodollar is still consolidating in the middle.
28.09.2015
186

Murrey Math Lines 28.09.2015 (EUR/USD, GBP/JPY)

At the H4 chart, Eurodollar is still moving in the middle.
25.09.2015
163

Murrey Math Lines 25.09.2015 (EUR/USD, GBP/USD)

As we can see at the H4 chart, Eurodollar’s attempt to break the 4/8 level has failed and right now the price is moving below it again.