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Home / Analytics / Forex analysis & forecasts / Forex Murray math lines and forecasts / Murrey Math Lines 11.04.2016 (EUR/USD, USD/CAD)
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Murrey Math Lines 11.04.2016 (EUR/USD, USD/CAD)

11.04.2016

Analysis for April 11th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is still consolidating above the 5/8 level. Bulls are supported by the H4 Super Trend. Taking into account that the price has already rebounded from it several times, the market may continue moving upwards and reach the 7/8 level.



At the H1 chart, after rebounding from the 7/8 level, the price started a new correction, but wasn’t able to fall lower that he 4/8 one. Later, the pair managed to stay above the 5/8 level and resumed its growth. Thus, in the nearest future the market may break its local high and reach the 8/8 level.




USD CAD, “US Dollar vs Canadian Dollar”

After rebounding from the 4/8 level several times, Canadian Dollar resumed its decline and managed to stay under the 3/8 one. Taking into account that Super Trends are still influenced by “bearish cross”, the market may continue falling towards the 0/8 level.



At the H1 chart, the price rebounded from the 8/8 level and started falling. As a result, Super Trends formed “bearish cross”. If later the pair is able to stay below the 5/8 level, it may continue moving downwards to reach the 3/8 one.



 
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