Murrey Math Lines 08.09.2015 (EUR/USD, USD/CAD)
08.09.2015
Analysis for September 8th, 2015
EUR USD, “Euro vs US Dollar”
The Eurodollar formed a retreat from the 4/8 line, and that indicates the possibility of the resumption of the price movement down. Earlier the SuperTrend lines formed a "bearish cross". The immediate goal appears to be 1/8, the breakdown of which will go for the price of testing the level of 0/8.
On the hourly chart the price has also pushed off the line 4/8 and SuperTrend lines are still under the influence of the "bearish cross". Confirmation of the possibility of further reduction would be binding under the mark 3/8.
USD CAD, “US Dollar vs Canadian Dollar”
The CAD received support from the four-hour SuperTrend line. If the price can hold above 5/8, a further increase in the currency pair towards the 8/8 level will be possible.
On the hourly chart the price was not able to break the 8/8 level the first time around. It is likely that during Tuesday the Bulls will again try to break through this line. If that happens, it will be possible to have growth to the level of +2/8, the breakdown of which will lead to the rebuilding of the murray indices.
RoboForex Analytical Department
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