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Murrey Math Lines 01.11.2016 (EUR/USD, CAD/JPY)

Analysis for November 1st, 2016

EUR USD, “Euro vs US Dollar”

The EUR/USD pair made a fast movement to break Super Trends, which formed “bullish cross” after that. Consequently, in the nearest future the market may continue growing towards the 5/8 level.



At the H1 chart, the pair is moving inside the “overbought zone”. In the nearest future, the market may continue growing and reach the 2/8 level. If later the price rebounds from this level, the market will start a new descending correction.




CAD JPY, “Canadian Dollar vs Japanese Yen”

The CAD/JPY pair rebounded from the 5/8 level and started consolidating close to Super Trends.  As a result, in the nearest future the market may fall towards the 3/8 level.



At the H1 chart, Super Trends have already formed “bearish cross”. Earlier, the price rebounded from the 8/8 level, plummeted up to the 3/8 one, and started the current correction. On Tuesday, the market may move to reach the 2/8 level. If later this level is broken, the pair may continue falling much deeper.



 
RoboForex Analytical Department

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