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Murrey Math Lines 06.12.2017 (USD/JPY, USD/CAD)

06.12.2017

USD JPY, “US Dollar vs. Japanese Yen”

As we can see at the H4 chart, the USD/JPY pair is consolidating between the 3/8 and 5/8 levels. Right now, the price is expected to fall towards the 3/8 level (111.71). Later, the instrument may break this level and then continue falling towards the 2/8 one (110.93).

USDJPY1

At the H1 chart, last night the pair managed to break the 8/8 level (112.50) and leave the “overbought zone”. At the moment, the first downside target is at 111.32; the main target is at the 4/8 level (110.93).

USDJPY2

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.

USDJPY3

 

USD CAD, “US Dollar vs Canadian Dollar”

As we can see at the H4 chart, the USD/CAD pair is consolidating and today may continue moving inside this range. After plummeting last week, the price is expected to be corrected towards the 5/8 level (1.2756), rebound from it, and then continue falling.

USDCAD1

At the H1 chart, the pair is moving near the support at the 0/8 level (1.2695) and may be corrected towards the 1/8 one (1.2756). Later, the price is expected to continue moving downwards.

USDCAD2

As we can see at the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may be corrected towards 1.2756. However, if the price breaks the downside line, the instrument won’t test 1.2756.

USDCAD3

 

RoboForex Analytical Department

 

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.



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