Murrey Math Lines 09.12.2015 (EUR/USD, USD/CAD)
09.12.2015
Analysis for December 9th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is moving towards the 2/8 level. If later the price rebound from this level, it may resume moving downwards. At the same time, if the market breaks it, the current ascending correction may be much deeper.
At the H1 chart, the predicted target of the current ascending movement is at the 8/8 level. However, if Eurodollar doesn’t rebound from the 7/8 level in the nearest future, the price may resume its decline and break Super Trends.
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar continues growing. Earlier, the price was supported by the 5/8 level, from which it rebounded several times. It’s highly likely that in the nearest future the market may test the 8/8 level. In case it rebounds from the level, the pair may start another correction.
At the H1 chart, Super Trends provide support. The closest target is at the 8/8 level. If later the price rebounds from this level, the pair may start a new local descending correction, at least.
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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.