Murrey Math Lines 28.02.2018 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USDJPY is expected to continue growing towards the resistance at the 3/8 level.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the price may fall towards the support at the 0/8 level in case it breaks the 2/8 one.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is trading inside the “overbought zone” above the 8/8 level. If he price breaks the +1/8 level, it may resume falling to reach the 7/8 one. Another scenario implies that the instrument may test the +2/8 level first, rebound from it, and then resume falling towards the 7/8 one.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.
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 may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 1.2634.
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.