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Murrey Math Lines 27.07.2016 (EUR/USD, USD/CAD)

Analysis for July 27th, 2016

EUR USD, “Euro vs US Dollar”

Eurodollar has been able to stay below the H4 Super Trend, which means that it may resume its decline. If later the price fixes under the 0/8 level, the market will continue falling and reach the -2/8 one.

As we can see at the H1 chart, the 1/8 level has provided resistance to the current ascending correction and the pair has rebounded from it. Consequently, in the future the price may break the low and the -2/8 level as well. In this case, the lines at the chart will be redrawn.

USD CAD, “US Dollar vs Canadian Dollar”

Canadian Dollar has been supported by the H4 Super Trend. Considering that the price is moving above the 8/8 level, in the nearest future the pair may resume growing and break the local high.

The lines at the H4 and H1 charts are completely the same. Super Trends are still influenced by “bullish cross”. It’s highly likely that the market may test the 2/8 level during the day. If the pair breaks it, the lines at the chart will be redrawn.

RoboForex Analytical Department

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