Murrey Math Lines 03.06.2015 (EUR/USD, CAD/JPY)
03.06.2015
Analysis for June 3rd, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar has started a fast correction and Super Trends have formed “bullish cross”. Possibly, in the nearest future the price may test the 4/8 level: if the price rebounds from it and later is able to stay below Super Trends, I’ll open a sell order.
As we can see at the H1 chart, the pair hasn’t been able to break the 7/8 level and rebounded from it several times. However, the pair may yet test the 8/8 level in the nearest future. But if it doesn’t happen and the price is able to stay below Super Trends, I’ll start selling again.
CAD JPY, “Canadian Dollar vs Japanese Yen”
The pair continues growing steadily. Stop losses on my buy orders are placed under the local low. Probably, in the future the price may break the +2/8 level. In this case, the lines at the chart will be redrawn.
At the H1 chart, the pair is also moving at the top. Yesterday the price rebounded from the H1 Super Trend. Most likely, the market will break the +2/8 level during Wednesday. In this case, the lines at the chart will be redrawn.
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.