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 rebounding from the H4 Super Trend, the EUR/USD pair fixed below the 0/8 level inside the “oversold zone”.
After rebounding from the H4 Super Trend, the EUR/USD pair is again trying to fix below the 0/8 level.
The EUR/USD pair reached the 0/8 level and started a new ascending correction with the closest target at the 1/8 level and the H4 Super Trend.
The EUR/USD pair reached the 1/8 level, but didn’t rebound from it.
At the H4 chart, Super Trends formed “bearish cross”.
Yesterday, the bullish rally was stopped by the +1/8 level and the price rebounded from it.
The EUR/USD pair moved upwards quickly, but was stopped by the +1/8 level and rebounded from it.
The EUR/USD pair couldn’t stay above the 6/8 level, but then managed to fix below the H4 Super Trend.
At the end of the last week, bulls attempted to break the 6/8 level, but the price couldn’t stay above it and right now is moving below the H4 Super Trend.
Yesterday, the EUR/USD pair rebounded from the H4 Super Trend, which means that it may continue growing.
The EUR/USD pair rebounded from the 6/8 level.
In case of the EUR/USD pair, the ascending correction continues.
The CAD/JPY pair rebounded from the 5/8 level and started consolidating close to Super Trends.
The EUR/USD pair tested the 4/8 level and rebounded from it.
The EUR/USD pair is still being corrected between Super Trends.