Murrey Math Lines 19.04.2017 (EUR/USD, USD/CAD)

19.04.2017

EUR USD, “Euro vs US Dollar”

The EUR/USD broke Super Trend, which later formed “bullish cross”. However, the price is still trading below the 4/8 level. As a result, if the pair breaks the 3/8 level, the market will resume moving downwards to reach the 0/8 one.

At the H1 chart, the pair is moving between the 8/8 and 7/8 levels. To confirm a new decline, the price has to break the 6/8 level along with Super Trends and fix below them. If it happens, the market will continue falling to reach the 0/8 level.

 

USD CAD, “US Dollar vs Canadian Dollar”

The USD/CAD pair rebounded from the 1/8 level and, as a result, started growing. If later the price fixes above the 4/8 level, the market may continue growing. In this case, the closest target will be at the 7/8 level.

As we can see at the H1 chart, Super Trends formed “bullish cross” and the price continued moving upwards. On Wednesday, the local correction may take place to reach the 6/8 level. If the pair rebounds from this level, the market will resume moving towards the +2/8 one.

 

RoboForex Analytical Department

 

Attention!

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.