Murrey Math Lines 09.11.2017 (EUR/AUD, EUR/CAD)
EUR AUD, “Euro vs. Australian Dollar”
As we can see at the H4 chart, the EUR/AUD pair is consolidating between the 3/8 and 5/8 levels. If the price breaks the downside border of this range at the 3/8 level, it may continue falling towards the support at the 0/8 one at 1.4892.
At the H1 chart, the price is trading inside the “oversold zone”. If the pair breaks the -2/8 level, the lines at the chart will be redrawn. In case it happens, the instrument may continue moving downwards to reach 1.4892.
As we can see at the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue falling to reach 1.4892.
EUR CAD, “US Dollar vs Canadian Dollar”
At the H4 chart, the EUR/CAD pair is trading to reach its main target at the 0/8 level at 1.4648. Right now, the price is moving close to the 1/8 level at 1.4770. If the instrument rebounds from this level, it will fall to reach 1.4648.
As we can see at the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards to reach 1.4648.
RoboForex Analytical Department
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.