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Murrey Math Lines 03.10.2018 (USDJPY, USDCAD)

03.10.2018

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is trading inside the “overbought zone”. In this case, it is expected to resume falling to reach the 8/8 level.

USDJPY1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the price may break the 3/8 level and then continue falling towards the support at the 0/8 one.

USDJPY2
Risk Warning: the result 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.

USDJPY3
Risk Warning: the result 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 trading below the 3/8 level. In this case, the price is expected to fall towards the support at the 0/8 level.

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

As we can see in the H1 chart, the price is trading at the 0/8 level. If the pair rebounds from this level, the instrument may start a new correction to the upside to reach the resistance at the 3/8 one, which may later be followed by another decline.

USDCAD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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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