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Murrey Math Lines 07.02.2018 (USDJPY, USDCAD)

07.02.2018

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY is consolidating between the 3/8 and 5/8 levels. Later, the price is expected to fall towards the 3/8 level, break it, and then continue trading downwards to reach the 2/8 one.

USDJPY1
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 may break the 3/8 level and then continue falling towards the 0/8 one.

USDJPY2
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach the main target at 107.81.

USDJPY3Risk 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 expected to test the resistance at the 7/8 level.

USDCAD1
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

In the H1 chart, the pair may break the 5/8 level and then continue growing towards the 6/8 one. One shouldn’t exclude a possibility that later the price may test the 7/8 level.

USDCAD2
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 upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.

USDCAD3
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.

 

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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