Murrey Math Lines 31.08.2015 (EUR/USD, USD/CAD)
31.08.2015
Analysis for August 31st, 2015
EUR USD, “Euro vs US Dollar”
At the H4 chart, Eurodollar is moving in the middle. It’s highly likely that Super Trends may form “bearish cross” in the nearest future. If the pair breaks the 3/8 level and stays below it, I’ll increase my short position.
The lines at the H4 and H1 charts are completely the same. The current decline is supported by Super Trends. In the future, the pair is expected to continue falling towards the 2/8 level: after reaching this level, the market may start a local ascending correction.
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar is moving in the middle of the chart. At the end of the last week, the pair was supported by the 4/8 level. If later the price is able to stay above the 5/8 level, the price will continue growing towards the 8/8 level.
At the H1 chart, the price is trying to stay above the 5/8 level. It’s highly likely that Super Trends may form “bullish cross” during the day. The closest target is the 8/8 level: after reaching it, the market may start a local descending correction.
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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.