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Murrey Math Lines 28.04.2015 (EUR/USD, USD/CAD)

Analysis for April 28th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar made several attempts to resume falling, but all of them failed. Most likely, the current correction will continue. The closest target of this correction is at the 6/8 level. If later the pair rebounds from this level, the downtrend may resume.



As we can see at the H1 chart, the pair is moving above the 2/8 level quite steadily, which means that it may continue growing towards the 4/8 one. The current movement is supported by Super Trends. However, if the price rebounds from the 4/8 level, I’m planning to close my order.




USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar is trying to break the 3/8 level; Super Trends are still influenced by “bearish cross” and provide support. During a local correction, I opened a sell order with the target at the 2/8 level.



At the H1 chart, the price is trying to stay below the 6/8 level. Earlier Super Trends formed “bearish cross”. The closest target is at the 4/8 level. If the pair breaks it, the market will fall much deeper.



 
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