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Murrey Math Lines 31.03.2016 (EUR/USD, USD/CAD)

Analysis for March 31st, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar continues growing and right now bulls are trying to keep the price above the 5/8 level. If they succeed, the pair will continue moving upwards. In this case, the market may reach the 6/8 level very soon.

At the H1 chart, the price has broken the 8/8 level and right now is moving inside the “overbought zone”. Bulls are supported by Super Trends. It’s highly likely that in the nearest future the market may beak the 2/8 level. In this case, the lines at the chart will be redrawn.

USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar has reached a new low, but is still moving above the 2/8 level. Earlier, Super Trends formed “bearish cross”. The closest target is at the 1/8 level. After reaching this level, the market may start a new ascending correction.

At the H1 chart, the price is moving in the middle, under Super Trends, which means that the market may continue falling. If later the pair is able to stay below the 3/8 level, the decline of the price may be much deeper.

RoboForex Analytical Department

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