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Murrey Math Lines 21.07.2015 (EUR/USD, USD/CAD)

Analysis for July 21st, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is being corrected. If in the nearest future the price rebounds from the H4 Super Trend, it may resume falling. In this case, the target will be at the 0/8 level.

At the H1 chart, the price is moving at the bottom. If the price rebounds from the H1 Super Trend, it may resume falling towards the 0/8 level. If later the pair rebounds from this level, the market may start a bullish correction.

USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar has been trying to rebound from the H4 Super Trend for the last 24 hours. Probably, the pair may reach a new high during Wednesday. 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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