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Home / Analytics / Forex analysis & forecasts / Forex Murray math lines and forecasts / Murrey Math Lines 08.12.2015 (EUR/USD, USD/CAD)
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Murrey Math Lines 08.12.2015 (EUR/USD, USD/CAD)


Analysis for December 8th, 2015

EUR USD, “Euro vs US Dollar”

After rebounding from the 2/8, Eurodollar has started a new correction. If later the price is supported by the 0/8 level and rebounds from it, it may resume moving upwards. In case the market stays above the 2/8 level, it may continue growing much higher.

At the H1 chart, Eurodollar is moving towards the 4/8 level. If the price rebounds from it, the ascending correction may continue. However, if the pair breaks the 4/8 level and stays below it, the market will continue falling

USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar continues growing inside “overbought zone”. Earlier, the price was supported by the 6/8 level and rebounded from it several times. It’s highly likely that in the nearest future the market may break +2/8 level. In this case, the lines at the chart will be redrawn.

At the H1 chart, the market is trying to break the 7/8 level. If later the price is able to stay above this level in the nearest future, the pair may start a new descending correction towards the 4/8 level.

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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.