Murrey Math Lines 10.09.2015 (EUR/USD, USD/CAD)
10.09.2015
Analysis for September 10th, 2015
EUR USD, “Euro vs US Dollar”
On the four-hour chart the price is trading in the middle of the build up of levels, trying to form a retreat from the 4/8 line. If later we will see the price fixing below the SuperTrend lines, I plan to increase the volume of my Short.
The market is trying to push off from the 8/8 level on the hourly chart. The confirmation on the resumption of reduction will be the SuperTrend lines forming the "bearish cross". The immediate goal appears at the 4/8 mark.
USD CAD, “US Dollar vs Canadian Dollar”
The uptrend is still receiving support from the 4/8 line, on which there was already a series or retreats. If the price can hold above 5/8, it will indicate the possibility of further growth to 8/8.
On the hourly chart the SuperTrend lines are under the influence of the "bullish cross". It is likely that soon the price will break through the line 8/8 and will continue growth in the framework of the "overbought zone". In case of breaking +2/8 we will get a new construction of levels.
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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.