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 making several unsuccessful attempts, the EUR/USD pair finally rebounded from the 4/8 level and the daily Super Trend.
The EUR/USD pair is still consolidating in the middle of the chart below Super Trends, which are still influenced by “bearish cross”.
Yesterday, the EUR/USD pair broke Super Trends and managed to stay below the 4/8 level, which means that it may continue moving downwards.
The EUR/USD pair tested the 5/8 level, but couldn’t stay above it.
The EUR/USD pair rebounded from the daily Super Trend and the 4/8 level one more time, which means that it may move downwards, at least in the short-term.
Yesterday, the EUR/USD pair failed to stay under the daily Super Trend and the 4/8 level and started a new local correction.
Yesterday, the EUR/USD pair failed to stay under the 3/8 level and started a fast growth.
After failing to break the H4 Super Trend, the EUR/USD pair reached a new local low.
The EUR/USD pair couldn’t fix below the 3/8 level on the first try, which resulted in a new ascending correction.
Last Friday, the EUR/USD pair broke its local low and Super Trends formed “bearish cross”.