Murrey Math Lines 05.04.2017 (EUR/USD, CAD/JPY)

EUR USD, “Euro vs US Dollar”

The EUR/USD pair finally managed to break the 7/8 level and, as a result, reached the 8/8 one. In the nearest future, the market may be corrected towards the 7/8 level, which now may provide support. Consequently, later the price may continue growing and try to break the 8/8 level.   

At the H1 chart, the 8/8 level provided resistance as well. On Friday, the price may be corrected towards the 6/8 level. If later the pair rebounds from this level, the market may resume moving upwards to reach the +2/8 one.

CAD JPY “Canadian Dollar vs Japanese Yen”

The CAD/JPY pair rebounded from the 3/8 level and, as a result, resumed falling. If the price breaks the 0/8 level, the market may continue falling towards the -2/8 one.

As we can see at the H1 chart, Super Trends formed “bearish cross”. During the day, the local correction may take place, but later the pair is expected to break the 0/8 level and try to fix inside the “oversold zone”.

RoboForex Analytical Department