Murrey Math Lines 14.03.2017 (EUR/USD, CAD/JPY)
EUR USD, “Euro vs US Dollar”
The EUR/USD pair failed to stay above the 7/8 level and resumed falling. If later the price fixes below Super Trends, the market may continue moving downwards to reach the 5/8 level.
At the H1 chart, the pair is moving between Super Trend. The closest target for bears is at the 3/8 level. If later the price breaks this level, the market may continue falling much faster.
CAD JPY “Canadian Dollar vs Japanese Yen”
The CAD/JPY pair is once again testing the daily Super Trend and then fixed below the 3/8 level. To confirm a new decline, the price has to fix below the 2/8 level. In this case, the market may reach the -1/8 level.
As we can see at the H1 chart, the 7/8 level provided resistance and the pair rebounded from the 6/8 one, which means that the market may start a short-term decline towards the 1/8 level.
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