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Murrey Math Lines 28.03.2016 (EUR/USD, USD/CAD)

Analysis for March 28th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar is still consolidating between Super Trends. If later the price breaks the 3/8 level, it may continue falling much deeper. In this case, the closest target for bears will be at the 2/8 level.

At the H1 chart, Eurodollar left and “overbought zone” and right now is moving near the 7/8 level. On Monday, the pair may test the H1 Super Trend. If the price rebounds from it, the market may resume moving downwards. It’s highly likely that the pair will test the 6/8 level by Tuesday.

USD CAD, “US Dollar vs Canadian Dollar”

Super Trends have formed “bullish cross”, which means that Canadian Dollar may continue growing. Earlier, the price rebounded from the 5/8 level at the H4 chart, which is the 1/8 one on the daily chart. Consequently, the market may complete the descending correction and resume growing inside the main uptrend.

At the H1 chart, the price is moving in the middle. Bulls are supported by Super Trends. If the price is able to stay above the 5/8 level, the market will continue growing towards the 8/8 one.

RoboForex Analytical Department

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