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Murrey Math Lines 26.07.2016 (EUR/USD, USD/CAD)

Analysis for July 26th, 2016

EUR USD, “Euro vs US Dollar”

In case of Eurodollar, the correction continues. If the price is able to stay above the H4 Super Trend during the day, it may resume its decline. In this case, the closest target will be at the -2/8 level.

As we can see at the H1 chart, the pair hasn’t been able to stay above the 1/8 level. If the price is able to stay under this level in the nearest future and then breaks Super Trends downwards, the market may resume moving downwards.

USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar is moving above the 8/8 level quite steadily. In addition to that, bulls are supported by the H4 Super Trend. Consequently, in the nearest future the pair may continue growing and break the 2/8 level. in this case, the lines at the chart will be redrawn.

The lines at the H4 and H1 charts are completely the same. If the price is able to stay above Super trends during the day, it may break the 2/8 level soon. As a result, the market may reach new highs during the next several days.

RoboForex Analytical Department

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