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.
Last Friday, the EUR/USD pair rebounded from the 7/8 level, which means that it may resume falling.
After rebounding from the 6/8 level, the EUR/USD pair is expected to resume falling.
Probably, the ascending correction has completed as the price hasn’t been able to stay above the 6/8 level, and it means that the pair may resume falling.
The current ascending correction is becoming deeper.
Eurodollar is consolidating between Super Trends, which may soon form “bearish cross”.
Eurodollar is consolidating between Super Trends.
Yen is still being corrected under the H4 Super Trend.
After rebounding from the 4/8 level, Eurodollar started forming a new descending correction.
At the H4 chart, the pair has rebounded from the 1/8 level, which means that the local correction may take place.
In case of Eurodollar, the situation hasn’t changed much over the last 24 hours.
After a fast growth last Friday, Eurodollar is consolidating near the 3/8 level.
Yesterday, the price rebounded from the 2/8 level and then stayed below it.
At the H4 chart, Eurodollar is trying to rebound from the 2/8 level.
Eurodollar has been able to stay below the H4 Super Trend, which means that it may resume its decline.
In case of Eurodollar, the correction continues.