Murrey Math Lines 16.12.2015 (EUR/USD, USD/CAD)
16.12.2015
Analysis for December 16th, 2015
EUR USD, “Euro vs US Dollar”
Eurodollar hasn’t been able to stay above the 2/8 level and right now is moving under this level again below the H4 Super Trend. During the day, the price may move towards the daily Super Trend. If the pair breaks it, the market will continue falling much deeper.
At the H1 chart, Super Trends have formed “bearish cross”. If later the price is able to stay under the 1/8 level, it will continue falling towards the 0/8 one. During the local correction, I opened a sell order with the stop loss near the local maximum.
USD CAD, “US Dollar vs Canadian Dollar”
Canadian Dollar has rebounded from the H4 Super Trend and the 8/8 level, which means that it may continue moving upwards. The closest target for bulls is at the +2/8 level. In case this level is broken, the lines at the chart will be redrawn.
At the H1 chart, the price is also moving at the top; Super Trends provide support. It looks like during the day the pair may break the +2/8 level. In this case, the lines at the chart will be redrawn.
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