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Murrey Math Lines 10.07.2015 (EUR/USD, USD/CAD)

Analysis for July 10th, 2015

EUR USD, “Euro vs US Dollar”

The market has started a fast correction. If Euro rebounds from the H4 Super Trend, it may resume moving downwards. Otherwise, in case the pair breaks the 4/8 level, the current correction may become much deeper.



As we can see at the H1 chart, if the price is able to stay below the 1/8 level, it may resume falling. Later, after Super Trends form “bearish cross”, I’m planning to open another sell order.




USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar is being corrected inside “overbought zone”; the 8/8 level provides support. If the price rebounds from it, the market will resume growing. Probably, the price may break the 2/8 level quite soon.



At the H1 chart, the price is moving above the 8/8 level; Super Trends provide support. I’m planning to move the stop loss on my current orders under the previous low as soon as the pair starts moving upwards.



 
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