Murrey Math Lines 26.08.2015 (EUR/USD, USD/CAD)
26.08.2015
Analysis for August 26th, 2015
EUR USD, “Euro vs US Dollar”
After rebounding from the 8/8 level, Eurodollar has been supported by the H4 Super Trend and the 6/8 level, which means that it may resume growing. Possibly, in the nearest future the price may break the 8/8 level and continue moving upwards inside “overbought zone”.
The lines at the H4 and H1 charts are completely the same. The price is supported by Super Trends. I’m planning to increase my position after the pair is able to stay above the 8/8 level.
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar is attempting to stay above the 5/8 level. Earlier, the price rebounded from the H4 Super Trend and the 4/8 level. The closest target is at 7/8 level: if the pair breaks it, the market will continue growing towards the 8/8 one.
As we can see at the H1 chart, the pair is trying to rebound from the 6/8 level. The price is supported by Super Trends. During the correction, I opened another buy order with the target at 8/8 level, which may be reached during the day.
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.