Murrey Math Lines 24.09.2015 (EUR/USD, USD/CAD)
24.09.2015
Analysis for September 24th, 2015
EUR USD, “Euro vs US Dollar”
At the H4 chart, Eurodollar is moving below the 4/8 level; Super Trend have formed “bearish cross”. If later the market is able to break the 3/8 level and stay below it, the pair will continue moving downwards to reach the 0/8 one.
At the H1 chart, the price is moving in the middle. I‘m planning to increase my short position as soon as the pair breaks Super Trends downwards. The closest target is at the 0/8 level. After reaching it, the market may start an ascending correction.
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar has been able to stay above the 6/8 level and right now is trying to rebound from it. Super Trends are still influenced by “bullish cross”. In the nearest future, the price may continue growing towards the 8/8 level: after breaking it, the market may move much higher.
The lines at the H4 and H1 charts are completely the same. The price is supported by Super Trends. It’s highly likely that the pair may reach a new high and the 8/8 level on Thursday.
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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.