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Murrey Math Lines 16.03.2015 (EUR/USD, USD/CAD)

Analysis for March 16th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is trying to stay below the 3/8 level and allow bears to continue pushing the price towards the 0/8 one. The pair is supported by Super Trends. Possibly, in the nearest future the price may reach a new low.

At the H1 chart, last Friday Super Trends formed “bearish cross”. Considering that earlier the price had been able to stay below the 3/8 level. The next target will be at the 0/8 one. I’ve opened an additional sell order during a local correction.

USD CAD, “US Dollar vs Canadian Dollar”

At the H4 chart, Canadian Dollar has broken the 5/8 level and stayed above it. Probably, after finishing a local correction, the pair may continue growing towards the 8/8 level. After reaching it, the market may start a deeper pullback downwards.

The lines at the H4 and H1 charts are completely the same. Bulls are supported by Super Trends. I’m planning to move my stop losses under a local low as soon as the price breaks the maximum.

RoboForex Analytical Department

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