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Murrey Math Lines 16.03.2017 (EUR/USD, CAD/JPY)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair rebounded from the 8/8 level, which means that the price may resume moving downwards. To confirm this scenario, the market has to fix below the 7/8 level. The closest target for bears is at the 6/8 level.

As we can see at the H1 chart, yesterday the 8/8 level provided resistance. If the price breaks the H1 Super Trend and fixes below it, the market may resume falling towards the 4/8 level.


CAD JPY “Canadian Dollar vs Japanese Yen”

The CAD/JPY pair rebounded from the daily Super Trend and the 3/8 level. However, in the nearest future the market may test these levels one more time. If the price rebounds from them again, the market may start a new descending movement and break the 0/8 level.

At the H1 chart, Super Trends formed “bearish cross”. On Thursday, the local correction is expected to take place, which may complete after the price fixes below the 3/8 level.


RoboForex Analytical Department


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