Cookies help us deliver our services. By using our services, you agree to our use of cookies.
Learn more Got it
Dakar 2017
Roboforex is an official sponsor
of "Starikovich-Heskes Team"
at the Dakar 2017
Home / Analytics / Forex analysis & forecasts / Forex Murray math lines and forecasts / Murrey Math Lines 05.05.2016 (EUR/USD, USD/CAD)
Ask a question
Did not find the information you need? Ask your questions and get answers online!
Enter chat
Or enter your phone number in the form below and we will call you right away.
Call back




Murrey Math Lines 05.05.2016 (EUR/USD, USD/CAD)

05.05.2016

Analysis for May 5th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is still moving between Super Trends. If in the nearest future the price rebounds from daily Super Trends and the 3/8 level, the pair may start a new ascending correction. However, if the market breaks these levels and stays below them, the pair will continue falling.



The lines at the H4 and H1 charts are completely the same, but at the H1 chart Super Trends have formed “bearish cross”. It’s highly likely that the price may test the 3/8 level soon. If the pair rebounds from this line, it may start a new local correction.




USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar has been able to stay above the 1/8 level. However, if the price rebounds from the 2/8 level, the pair may start a new local correction towards the H4 Super Trend.



The price wasn’t able to break the 7/8 level, but later was supported by the 6/8 one. Consequently, in the nearest future the pair may test the 8/8 level. If the price rebounds, the market will start a new descending correction.



 
RoboForex Analytical Department

Dear reader!

Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.

Attention!

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.