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Murrey Math Lines 14.08.2015 (EUR/USD, USD/CAD)

Analysis for August 14th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is attempting to rebounds from the 7/8 level again. I’ve moved my pending sell order a bit higher, below the local low. The closest target is at the 4/8 level; if the price breaks it, the market will fall much lower.

The lines at the H4 and H1 charts are completely the same. It’s highly likely that Super Trends may form “bearish cross” in the nearest future. After that, I’ll increase my short position.

USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar has been able to stay above the H4 Super Trend. If the price is able to break the 8/8 level and stay above it, I’m planning to open another buy order. After the market breaks the 2/8 level, the lines at the chart will be redrawn.

As we can see at the H1 chart, Super Trends have formed “bullish cross”. If later the price stays above the 5/8 level, the market may continue growing towards the 8/8 one. Possibly, the pair may reach a new local high during the day.

RoboForex Analytical Department

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