Murrey Math Lines 26.05.2015 (EUR/USD, USD/CAD)
26.05.2015
Analysis for May 26th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar, being supported by Super Trends, continues moving downwards. Earlier the price was able to stay below the 3/8 level, which means that it may continue falling towards the 0/8 one. If bears don’t face any serious resistance at the 1/8 level, they may reach the 0/8 one in the nearest future.
At the H1 chart, the price is moving at the bottom. Earlier, Super Trends formed “bearish cross”. probably, in the nearest future the market may break the -2/8 level. In this case, the lines at the chart will be redrawn.
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar continues reaching new highs. If the market is able to stay above the 5/8 level, it may continue growing towards the 8/8 one. I’m holding two buy orders so far, but later plan to increase my long position.
As we can see at the H1 chart, the price has rebounded from Super Trends and resumed growing. If the pair doesn’t face any serious resistance at the 7/8 level, it may continue growing to reach the 8/8 one. After reaching this level, the pair may rebound and start a new correction.
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