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Murrey Math Lines 10.07.2019 (USDJPY, USDCAD)

10.07.2019

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, after breaking 3/8, USDJPY is consolidating. In this case, the price may continue growing towards the resistance at 4/8. However, this scenario may be no longer valid if the price breaks 3/8. After that, the instrument may resume trading downwards to reach the support at 2/8.

USDJPY_H4
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 upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

USDJPY_M15
Risk Warning: the result 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, bears have failed to break 3/8. Bulls start dominating and may push the price towards the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8. After that, the instrument may continue falling towards the support at 2/8.

USDCAD_H4
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 upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.

USDCAD_M15
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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