Murrey Math Lines 16.09.2015 (EUR/USD, USD/CAD)

Analysis for September 16^th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has rebounded from the 5/8 level and right now is moving below the H4 Super Trend. I’m planning to increase my short position as soon as the price breaks the 4/8 level and stays below it. The closest target is at the 2/8 level.



As we can see at the H1 chart, Super Trends have formed “bearish cross”. The local target is at the 4/8 level: if the market breaks it, the price may fall deeper. Earlier, the pair rebounded from the 6/8 level and started the current ascending correction

USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar is still consolidating. In the past few weeks, the pair rebounded from the 4/8 level several times. The closest target is at the 8/8 level: if the pair breaks it, the market may continue moving upwards inside “overbought zone”.



At the H1 chart, the pair is moving in the middle. If later the market breaks the 5/8 level, the price will continue growing much higher.



 
RoboForex Analytical Department