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 is being corrected at the 4/8 level.
Just as we expected yesterday, Eurodollar is attempting to resume falling.
In case of Eurodollar, the growth is slowing down.
Eurodollar continues moving inside the Flat pattern near its local highs; the current ascending movement is supported by Super Trends.
Eurodollar is trying to stay above the 5/8 level.
Bulls made a real breakthrough by smashing the 4/8 level.
Eurodollar rebounded from the daily Super Trend, which means that it may resume moving downwards.
Pound continues its decline, which resulted in “bearish cross” formed by Super Trends.
Eurodollar is being corrected between Super Trends.
In case of Australian Dollar, the current correction faced resistance from the daily Super Trend.
Franc is being corrected as well.
Eurodollar is being corrected inside the “oversold zone” between Super Trends.
Eurodollar is moving inside the “oversold zone”, near the -1/8 level.
Eurodollar continues falling inside the “oversold zone”.
Eurodollar is still moving inside the “oversold zone” and trying to rebound from the 0/8 level and the H4 Super Trend.