Murrey Math Lines 25.08.2015 (EUR/USD, USD/CAD)
25.08.2015
Analysis for August 25th, 2015
EUR USD, “Euro vs US Dollar”
Yesterday, Euro reached the 8/8 level and started a descending correction. Probably, in the nearest future the pair may test the 6/8 level. If the price rebounds from it, the market may resume moving upwards.
The lines at the H4 and H1 charts are completely the same. Bulls are supported by Super Trends. If, after testing the 6/8 level, the price stays above Super Trends again, I’m planning to resume buying.
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar is moving inside “overbought zone”. Yesterday the price rebounded from the H4 Super Trend again. In the nearest future, the pair may form a correction and then break the +2/8 level. In this case, the lines at the chart will be redrawn.
The lines at the H4 and H1 charts are completely the same. It’s highly likely that the price may reach a new high during Tuesday. I’m holding two buy orders and planning to increase my position.
RoboForex Analytical Department
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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.