Murrey Math Lines 03.11.2017 (USD/RUB, USD/CAD)
USD RUB, “US Dollar vs Russian Ruble”
As we can see at the H4 chart, the USD/RUB pair is trading close to the 3/8 level at 58.5938. The price made several attempts to break this level, but failed. Later, the instrument is expected to continue falling towards the support at the 0/8 level at 56.2500.
At the H1 chart, the price is expected to test the resistance at the 8/8 level at 58.5938, rebound from it, and then resume moving downwards to reach at 56.2500.
At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, fail to test 58.5938.
USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the USD/CAD pair has broken the +1/8 level at 1.2817 and, as a result, may continue falling towards the 5/8 one at 1.2329.
At the H1 chart, the pair failed to fix inside the consolidation range between the 3/8 and 5/8 levels and broke it to the downside. In this case, the price is expected to continue falling.
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.
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.