Murrey Math Lines 13.11.2015 (EUR/USD, USD/CAD)
13.11.2015
Analysis for November 13th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar is still being corrected. It’s highly likely that the price may test the daily Super Trend. If the pair rebounds from it, the market will resume its decline towards the -2/8 level.
At the H1 chart, Eurodollar is also moving at the bottom. If the price rebounds from the 2/8 level, bears will return to the market. I’m planning to increase my short position as soon as the pair stays below the 0/8 level.
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar has rebounded from the H4 Super Trend and reached a new high. It’s highly likely that in the nearest future the market may continue growing. The closest target is at the 8/8 level. After reaching it, the price may start a descending correction.
The lines at the H4 and H1 charts are completely the same. If later the price is able to stay above the 6/8 level, I’m planning to open another buy order. It looks like the market may reach a new local high in the beginning of the next week.
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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.