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Murrey Math Lines 10.11.2015 (EUR/USD, USD/CAD)

Analysis for November 10th, 2015

EUR USD, “Euro vs US Dollar”

Eurodollar is still very close to “oversold zone”; the price is moving between Super Trends, which earlier formed “bearish cross”. If later the price breaks the 0/8 level, it may continue its descending movement towards the -2/8 one.

At the H1 chart, Eurodollar is also moving at the bottom, but between Super Trends.  I’m planning to increase my short position as soon as the pair stays under the 0/8 level.

USD CAD, “US Dollar vs Canadian Dollar”

Probably, Canadian Dollar has completed its local correction. The pair is supported by Super Trends. Considering that the price is moving below the 5/8 level, the pair is expected to continue moving upwards to reach the 8/8 one.

The lines at the H4 and H1 charts are completely the same. I’m planning to open another but order as soon as the pair resumes its growth and stays above the 6/8 level. Possibly, the market may reach a new local high on Tuesday.

RoboForex Analytical Department

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