Murrey Math Lines 07.09.2017 (EUR/USD, USD/CAD)

07.09.2017

EUR USD, “Euro vs. US Dollar”

At the H4 chart, the EUR/USD pair is still expected to grow towards the 3/8 level at 1.2085.

As we can see at the H1 chart, the pair is consolidating between the 3/8 and 5/8 levels. at the moment, the price is expected to grow towards 1.2085. However, this scenario may be cancelled if the pair breaks the 3/8 level at 1.1901. In this case, the instrument may fall to reach the 0/8 level at 1.1718.

 

USD CAD, “US Dollar vs Canadian Dollar”

As we can see at the H4 chart, the USD/CAD pair is trading close to the support at the 0/8 level at 1.2207. Later, the price is expected to rebound from this level and resume growing to reach the 3/8 one at 1.2390.

At the H1 chart, the pair is also trading near the support at the 0/8 level at 1.2207 and confirms the H4 chart scenario.

At the M15 chart, the price may break the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards to reach 1.2390.

 

RoboForex Analytical Department

 

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.