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 11.05.2016 (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 11.05.2016 (EUR/USD, USD/CAD)

11.05.2016

Analysis for May 11th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is moving under Super Trends, which may form “bearish cross” in the nearest future. Considering that earlier the price was able to stay below the 3/8 level, the closest target is at the 1/8 one. If the pair breaks it as well, the market will continue falling to reach the 0/8 level.



At the H1 chart, the pair is moving at the bottom. It’s highly likely that during the day the price may break the 0/8 level. in this case, the next target for bears will be at the -2/8 level.




USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar has rebounded from the H4 Super Trend, which means that it may resume moving upwards. The closest target for bulls is at the 4/8 level. After reaching it, the market may start a new local correction. However, if this level is broken, bulls may continue pushing the price upwards.



At the H1 chart, Super Trends are still influenced by “bullish cross” despite the current correction. On Wednesday, the price may continue moving upwards and break its local maximum.



 
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.