Murray levels analysis for the EUR/USD and USD/CAD on 23.12.2015
23.12.2015
Murray levels analysis on 23 December 2015
EUR USD "Euro to the US dollar"
The Euro Dollar has formed a retreat from the 2/8 level. If subsequently the price consolidates below the four-hour SuperTrend, it will be the first signal for the resumption of the downward movement. The immediate target in this case will be the 0/8 mark.
On the hourly chart the price rebounded from the 4/8 mark and has traded below the SuperTrend lines that may soon form a "bearish cross". If the market can stay below the 3/8 mark, I plan to enter into additional shorts.
USD CAD "The US dollar to Canadian dollar"
The Canadian dollar is still in consolidation. Support for the rise came from the four-hour SuperTrend line and the Murray 6/8 mark. If the price will push up from these levels it will be possible to move toward the 8/8 line.
On the hourly chart there is a restructuring of the Murray indicators. The market is trading in the middle of the levels. It is possible that during the day the market will try to gain a foothold above the 5/8 mark. If the bulls are successful, resumption of growth to the 8/8 line will be possible.
EUR USD "Euro to the US dollar"
The Euro Dollar has formed a retreat from the 2/8 level. If subsequently the price consolidates below the four-hour SuperTrend, it will be the first signal for the resumption of the downward movement. The immediate target in this case will be the 0/8 mark.
On the hourly chart the price rebounded from the 4/8 mark and has traded below the SuperTrend lines that may soon form a "bearish cross". If the market can stay below the 3/8 mark, I plan to enter into additional shorts.
USD CAD "The US dollar to Canadian dollar"
The Canadian dollar is still in consolidation. Support for the rise came from the four-hour SuperTrend line and the Murray 6/8 mark. If the price will push up from these levels it will be possible to move toward the 8/8 line.
On the hourly chart there is a restructuring of the Murray indicators. The market is trading in the middle of the levels. It is possible that during the day the market will try to gain a foothold above the 5/8 mark. If the bulls are successful, resumption of growth to the 8/8 line will be possible.
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.