Murrey Math Lines 07.03.2018 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USDJPY is trading inside the “oversold zone” below the 0/8 level.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
As we can see in the H1 chart, the price has rebounded from the resistance at the 3/8 level and may fall towards the support at the 0/8 one.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, USDCAD is consolidating above the 5/8 level and may continue growing towards the resistance at the 8/8 one.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
As we can see in the H1 chart, the pair is consolidating between the 3/8 and 5/8 levels. If the price breaks from the 5/8 level, the instrument may continue growing to reach the resistance at the 8/8 one. Another scenario implies that the instrument may break the support at the 3/8 level and then continue falling towards the 0/8 one.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
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.