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 still moving between Super Trends.
Eurodollar has rebounded from the 6/8 level (which matches the 7/8 level from the daily chart, and this is important) and started falling very fast.
Eurodollar continues moving upwards and has already reached the 6/8 level, which may be a starting point of a new correction.
Eurodollar has broken the 7/8 level very easily, which means that it may continue moving upwards.
Eurodollar has rebounded from the 7/8 level, which means that it may start a new correction.
Eurodollar is trying to rebound from the 6/8 level.
The price is attempting to enter the “overbought zone” and stay above the 8/8 level.
Eurodollar is testing the daily Super Trend.
Eurodollar has failed to stay under the 4/8 level on the first try despite “bearish cross” formed by Super Trends earlier.
Eurodollar is still moving inside the flat.
Eurodollar is moving between Super Trends.
After a fast ascending movement, Eurodollar has started a correction.
Eurodollar is moving above Super Trends, which means that the ascending correction may continue.
After rebounding from the 4/8 level, Eurodollar has started consolidating.
Earlier, Eurodollar managed to stay under Super Trends, which may form “bearish cross” quite soon.