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Murrey Math Lines 22.07.2015 (EUR/USD, USD/CAD)

Analysis for July 22nd, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar has started a fast correction, which is supported by the daily Super Trend. Probably, the pair may test the 2/8 level during the day. If the price rebounds from this level, it may resume falling.



At the H1 chart, the price is moving in the middle. If the price rebounds from the 4/8 level in the nearest future, I will open a sell order. If Super Trends form “bearish cross”, it will be another confirmation that the downtrend may resume.




USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar is still trying to rebound from the H4 Super Trend. Probably, the pair may reach a new high during the day. 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.



 
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