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Murrey Math Lines 06.11.2015 (EUR/USD, USD/CAD)

Analysis for November 6th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is consolidating below the H4 Super Trend. The closest target is at the 0/8 level. If this level is broken, the market will continue falling towards the -2/8 one.

At the H1 chart, Eurodollar is moving at the bottom. If the pair rebounds from Super Trends, the market may resume moving downwards. After 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 break the 5/8 level and stay above it, the pair will continue moving upwards to reach the 7/8 one.

As we can see at the H1 chart, Super Trends have formed “bullish cross”. It’s highly likely that the market may reach a new local high on Friday. I opened another buy order during the correction yesterday.

RoboForex Analytical Department

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