Murray levels analysis of EUR/USD and USD/CAD for 14.07.2015
14.07.2015
Murray levels analysis for 14 July 2015
EUR USD "Eurodollar"
The Eurodollar is trading on the edge of being "oversold". If the price will be supported by the four-hour SuperTrend, it will possibly resume its downward movement. A break through the line -2/8 will lead to rebuilding the levels on the chart.
On the hourly chart the price is trading in the middle of the structure of the levels. Yesterday the lines of SuperTrends formed a "bearish cross". Breakdown and consolidation below 03.08 will confirm the possibility of a further decrease in the pair.
USD CAD "USD to Canadian dollar"
The Canadian dollar continued an upward movement in the range of being "overbought". Support for the price comes from the SuperTrend lines. It is very likely that during the day there will be a break through the +2/8 mark and that would bring a complete reshuffling of levels on the chart.
The structure of the levels on both charts matches. It is very likely that during Tuesday the price will form a +2/8 line break that will lead to the rebuilding of the Murray indicators. Subsequently, I plan to increase the volume of the position.
RoboForex Analytical Department
EUR USD "Eurodollar"
The Eurodollar is trading on the edge of being "oversold". If the price will be supported by the four-hour SuperTrend, it will possibly resume its downward movement. A break through the line -2/8 will lead to rebuilding the levels on the chart.
On the hourly chart the price is trading in the middle of the structure of the levels. Yesterday the lines of SuperTrends formed a "bearish cross". Breakdown and consolidation below 03.08 will confirm the possibility of a further decrease in the pair.
USD CAD "USD to Canadian dollar"
The Canadian dollar continued an upward movement in the range of being "overbought". Support for the price comes from the SuperTrend lines. It is very likely that during the day there will be a break through the +2/8 mark and that would bring a complete reshuffling of levels on the chart.
The structure of the levels on both charts matches. It is very likely that during Tuesday the price will form a +2/8 line break that will lead to the rebuilding of the Murray indicators. Subsequently, I plan to increase the volume of the position.
RoboForex Analytical Department
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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.