Murrey Math Lines 15.06.2016 (EUR/USD, USD/CAD)
15.06.2016
Analysis for June 15th, 2016
EUR USD, “Euro vs US Dollar”
Eurodollar has been able to stay below the 4/8 level after all, which means that it may continue falling. In addition to that, yesterday Super Trends formed “bearish cross”. Consequently, during the day the price may continue falling towards the 3/8 level.
At the H1 chart, Eurodollar has been able to stay inside the “oversold zone” under Super Trends. During the current correction, I opened another sell order with the target at the ‑2/8 level. If the price breaks this level, the lines at the chart will be redrawn.
USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, after rebounding from the 0/8 level twice, Canadian Dollar is trying to resume its growth. The closest target for bulls is at the 3/8 level, but in order to reach it, they have to break the daily and weekly Super Trends.
At the H1 chart, bulls are supported by Super Trends. It’s highly likely that on Wednesday the pair may test the 4/8 level. If case it breaks the level, the price may continue moving upwards.
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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.