Murrey Math Lines 24.04.2017 (EUR/USD, USD/CAD)
EUR USD, “Euro vs US Dollar”
The EUR/USD updated the March’s high, but failed to break the 7/8 level. As a result, in the nearest future the market may move downwards to reach the 4/8 level. If later the price rebounds from this level, the pair may resume growing.
The lines at the H4 and H1 charts are completely the same. To confirm a new decline towards the 4/8 level, the price has to fix below the H4 Super Trend. However, if the pair breaks the above-mentioned level, the market will continue falling to reach its next targets.
USD CAD, “US Dollar vs Canadian Dollar”
The USD/CAD pair is consolidating above Super Trends, which formed “bullish cross” last week. In the nearest future, the market may continue growing towards the 7/8 level.
To confirm a new growth, the pair has to fix above the 5/8 level. If later the price rebounds from the 7/8 level, bears may start a new descending correction.
RoboForex Analytical Department
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.