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Murrey Math Lines 01.05.2015 (EUR/USD, USD/CAD)

Analysis for May 1st, 2015

EUR USD, “Euro vs US Dollar”

The lines at the H4 chart have been redrawn. Right now, Eurodollar, being supported by Super Trends, is being corrected below the 4/8 level. Possibly, in the nearest future the price may test the 5/8 level; if it breaks this level, the market will continue growing.



At the H1 chart, the pair is moving in the middle. Yesterday, the market rebounded from the H1 Super trends once again. If later the price is able to break the 8/8 level, it will continue growing inside “overbought zone”.




USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar hasn’t been able to stay above the 3/8 level, which means that the local correction may be finished. If the price breaks the H4 Super Trend downwards, I’m planning to open another sell order. The closest target is at the 1/8 level.



At the H1 chart, the current correction has resulted in “bullish cross”, which was formed by Super Trends. If the price breaks the 4/8 level and stays below it, the market will resume falling. After that’ I’m planning to increase my short position.



 
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