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Murrey Math Lines 29.04.2015 (EUR/USD, USD/CAD)

Analysis for April 29th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar continues moving upwards quite steadily.  Earlier Super Trends formed “bullish cross”. Right now, the market is being corrected at the 6/8 level, and, considering that reverses hardly ever occur here, may continue growing towards the 8/8 one.

At the H1 chart, the pair is moving in the middle; bulls are supported by Super Trends. If the price is able to stay above the 5/8 level, the market will continue growing towards the 8/8 one.

USD CAD, “US Dollar vs Canadian Dollar”

Yesterday Canadian Dollar broke the minimum and was able to stay below the 3/8 level, thus allowing the pair to continue falling much deeper. During a local correction, I opened another sell order. The closest target is at the 2/8 level.

At the H1 chart, the price is being corrected above the 5/8 level. If the market rebounds from the H1 Super Trend, it may reach the 4/8 level during the day. We should note that if the pair breaks this level, the market will fall much deeper.

RoboForex Analytical Department

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