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Murrey Math Lines 06.10.2016 (EUR/USD, USD/CAD)

Analysis for October 6th, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still consolidating. Yesterday, the price rebounded from the 4/8 level and right now is testing the H4 Super Trend. If the price is able to fix above the 3/8 level, the market may move upwards to reach the 5/8 one.

At the H1 chart, the pair rebounded from the 5/8 level and Super Trends formed “bullish cross”. In the nearest future, bulls may attempt to break the 8/8 level once again.

USD CAD, “US Dollar vs Canadian Dollar”

The USD/CAD pair is moving close to the 8/8 level. If the price can’t fix above this level, it may start falling. In this case, the closest target will be at the 6/8 level and the daily Super Trend.

At the H1 chart, the pair is moving in the middle. Earlier, the price rebounded from the 5/8 level several times. If later the market stays below the 3/8 level, it will move downwards to reach the 0/8 one.

RoboForex Analytical Department

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