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Murrey Math Lines 08.12.2015 (EUR/USD, USD/CAD)

Analysis for December 8th, 2015

EUR USD, “Euro vs US Dollar”

After rebounding from the 2/8, Eurodollar has started a new correction. If later the price is supported by the 0/8 level and rebounds from it, it may resume moving upwards. In case the market stays above the 2/8 level, it may continue growing much higher.



At the H1 chart, Eurodollar is moving towards the 4/8 level. If the price rebounds from it, the ascending correction may continue. However, if the pair breaks the 4/8 level and stays below it, the market will continue falling




USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar continues growing inside “overbought zone”. Earlier, the price was supported by the 6/8 level and rebounded from it several times. It’s highly likely that in the nearest future the market may break 2/8 level. In this case, the lines at the chart will be redrawn.



At the H1 chart, the market is trying to break the 7/8 level. If later the price is able to stay above this level in the nearest future, the pair may start a new descending correction towards the 4/8 level.



 
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