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.
Eurodollar rebounded from the 3/8 level, which provided resistance for the current correction earlier.
After rebounding from the 3/8 level, Pound is moving under the H4 Super Trend again.
In case of Eurodollar, the correction continues.
Eurodollar has rebounded the H4 Super Trend, thus continuing the current ascending correction.
Eurodollar continues consolidating under the H4 Super Trend after rebounding from it several times.
Eurodollar is still being corrected at the bottom of the H4 chart under Super Trends.
Franc rebounded from the 0/8 level twice, reached the 4/8 one very fast, and then started a local correction.
After rebounding from the 7/8 level twice, Eurodollar started a fast decline, which was later stopped by the -1/8 level and the price rebounded upwards.
Franc has already rebounded from the 1/8 level several times.
After rebounding from the 6/8 level, Eurodollar is moving between Super Trends.
The H4 Super Trend provided a local support, which means that in the nearest future the market may test the 7/8 level.
The price hasn’t been able to stay above the 6/8 level and right now is moving below it again.
The price hasn’t been able to stay below the 4/8 level and right now is moving above it again, thus thwarting bears’ plans.
Super Trends have formed “bearish cross”, which means that Eurodollar may resume moving downwards.
Eurodollar has been able to stay below the 4/8 level after all, which means that it may continue falling.