Murrey Math Lines: EUR/USD, USD/CAD

Posted By Posted On 10 January 2016

Analysis for January 8th, 2016

EUR USD, “Euro vs US Dollar”

The lines at the daily and H4 charts are completely the same. Eurodollar has rebounded from the 0/8 level twice and been able to stay Super Trends, which may form “bullish cross” quite soon. In the nearest future, the market may continue growing towards the 3/8 level.


At the H1 chart, Eurodollar is moving in the middle. I’m planning to open another sell order as soon as the market resumes growing and stays above the 3/8 level. The closest target is the 8/8 level. After reaching it, the pair may rebound and start a local correction.



USD CAD, “US Dollar vs Canadian Dollar”

As we can see at the H4 chart, Canadian Dollar has rebounded from the 8/8 level, and, as a result, may start a new descending correction. If the 7/8 level and the H4 Super Trend provide support, the market may resume growing. Otherwise, the current correction ay continue up to the 6/8 level.


At the H1 chart, the price may continue moving towards the 6/8 level. If the pair breaks this level, the current bearish correction may become much deeper. In this case, the closest target will be at the 4/8 level.


Related Posts - The Website will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts. Please be fully informed regarding the risks and costs associated with trading the Forex Markets, it is one of the riskiest investment forms possible. Currency forex trading on margin involves high risk, and is not suitable for all investors. Before deciding to forex trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite.