Murrey Math Lines 06.01.2016 (EUR/USD, USD/CAD)
06.01.2016
Analysis for January 6th, 2016
EUR USD, “Euro vs US Dollar”
At the H4 chart, Eurodollar is trying to stay below the 0/8 level. Earlier, Super Trends formed “bearish cross”. In the nearest future, the market may continue falling towards the -1/8 level.
At the H1 chart, the pair is also trying to stay inside “oversold zone”. Yesterday, the price rebounded from the H1 Super Trend. If later the market breaks the -2/8 level, the lines at the chart will be redrawn.
USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, Canadian Dollar has broken the 7/8 level on the first try. Consequently, in the future the price may continue growing towards the 8/8 level. In case this level is broken as well, the pair will continue growing inside “overbought zone”.
At the H1 chart, the price is moving close to the +2/8 level. It’s highly likely that on Wednesday this level may be broken. I’m planning to open another buy order during the correction.
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