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Home / Analytics / Forex analysis & forecasts / Forex Murray math lines and forecasts / Murrey Math Lines 20.10.2016 (EUR/USD, USD/CAD)
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Murrey Math Lines 20.10.2016 (EUR/USD, USD/CAD)


Analysis for October 20th, 2016

EUR USD, “Euro vs US Dollar”

After rebounding from the H4 Super Trend, the EUR/USD pair fixed below the 4/8 level. Consequently, in the nearest future the market may test the 3/8 level. If the price rebounds this level, is may start a local ascending correction.

At the H1 chart, the pair is moving inside the “oversold zone”.  Earlier, the price rebounded from the 1/8 level and then Super Trends formed “bearish cross”. As a result, quite soon the market may test the -2/8 level.

USD CAD, “US Dollar vs Canadian Dollar”

Yesterday, the USD/CAD pair rebounded from the daily Super Trend and the 1/8 level. This was the second time the price rebounded from these levels, so later it may resume moving upwards. The closest target is at the 6/8 level. If the market breaks this level, bulls will continue pushing the price much higher.

At the H1 chart, Super Trends formed “bullish cross”. If the price breaks the 4/8 level during the day and stays above it, the market will continue growing towards the 6/8 one.

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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.