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Home / Analytics / Forex analysis & forecasts / Forex Murray math lines and forecasts / Murrey Math Lines 07.12.2015 (EUR/USD, USD/CAD)
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Murrey Math Lines 07.12.2015 (EUR/USD, USD/CAD)


Analysis for December 7th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has faced resistance from the 2/8 level and started a descending correction. If later the price is supported by the 0/8 level and rebounds from it, the market may resume its ascending movement.

At the H1 chart, the price is getting closer to the 4/8 level. If the pair rebounds from this level, the ascending correction may continue. However, the door swings both ways: if the price breaks the 4/8 level and stays below it, the market may continue falling.

USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar is trying to stay above the 8/8 level inside “overbought zone”. Earlier, the price was supported by the 6/8 level and rebounded from it several times. In the nearest future, the market may continue moving towards the +2/8 level.

At the H1 chart, the price is moving at the top as well. If the pair breaks the +2/8 level during the day, 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.