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Murrey Math Lines 02.11.2015 (EUR/USD, USD/CAD)

Analysis for November 2nd, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is being corrected at the bottom of the H4 chart. On Monday, the pair may test the daily Super Trend. If the price rebound from it, the market will resume falling.

The lines at the H4 and H1 charts are completely the same. As soon as the pair is able to stay under Super Trends, I’m planning to open another sell order. If the price breaks the -2/8 level, the lines at the chart will be redrawn.

USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar has rebounded from the daily Super Trend. If the price is able to stay above the 3/8 level, the pair will resume moving upwards. In this case, the closest target will be at the 5/8 level: if the market breaks this level as well, it will continue growing much higher.

As we can see at the H1 chart, the pair was supported by the 6/8 level. If Super Trends form “bullish cross”, the market will resume moving upwards. After the price breaks the 8/8 level, the target will be at the 2/8 one.

RoboForex Analytical Department

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