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Murrey Math Lines 20.07.2015 (EUR/USD, USD/CAD)

Analysis for July 20th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar continues falling steadily; bears are supported by Super Trends. Most likely, in the nearest future the market will reach the 0/8 level. If the price rebounds from it, the market may start a new ascending correction.

At the H1 chart, the price is also moving in the middle. Earlier, the price was able to stay below the 3/8 level and continued falling. The closest target is at the 0/8 level.

USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar is trying to rebound from the H4 Super Trend. Probably, the pair may reach a new high during Monday. Later, the market is expected to reach the 8/8 level.

At the H1 chart, the price is moving in the middle. If the price is able to stay above the 5/8 level, it may resume moving upwards. The target for the next several days is at the 8/8 level; after reaching it, the pair may start a descending correction.

RoboForex Analytical Department

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