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Murrey Math Lines 12.01.2016 (EUR/USD, USD/CAD)

Analysis for January 12th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is still being corrected. If the price is able to stay under Super Trends, it may move to reach the 0/8 level. However, if the pair breaks the 1/8 level and stays above it, the market may start a new ascending movement.



At the H1 chart, Eurodollar is moving in the middle. The closest target of the current local correction is at the 2/8 level. If this level is broken, the market may fall towards the 0/8 one.




USD CAD, “US Dollar vs Canadian Dollar”

The lines at the H4 chart have been redrawn. During the next several days, Canadian Dollar may continue growing to reach the 3/8 level. If the price rebounds from it, the market may start a new descending correction.



At the H1 chart, the price is moving inside “overbought zone”; the current growth is supported by Super Trends. It’s highly likely that quite soon the pair may break the 2/8 level and the lines at the chart will be redrawn.



 
RoboForex Analytical Department

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