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Murrey Math Lines 30.01.2017 (EUR/USD, USD/CAD)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair rebounded from the 8/8 level, which means that the current descending correction may yet continue.  If the price fixes under the H4 Super Trend, the market will start a short-term decline towards the daily one and the 6/8 level.

As we can see at the H1 chart, Super Trends are still influenced by “bearish cross”. On Monday, the pair may fall towards the 4/8 level. To confirm this scenario, the market has to fix below the 7/8 one.

 

USD CAD, “US Dollar vs Canadian Dollar”

After rebounding from the 3/8 level again, the USD/CAD pair managed to fix above the H4 Super Trend. Consequently, in the nearest future the market may break the 4/8 level and test the daily Super Trend. If the price breaks it, the pair may continue growing much higher.

At the H1 chart, the 2/8 level provided support and then Super Trends formed “bullish cross”. As a result, in the nearest future the market may continue growing towards the 5/8 level. After reaching it, the pair may start a new local correction.

 

RoboForex Analytical Department

 


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