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Murrey Math Lines 07.08.2019 (USDJPY, USDCAD)

07.08.2019

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is moving inside the “oversold area”. In this case, the price may break 0/8 and continue growing to reach the resistance at 3/8. As long as the price is trading below 0/8, the descending tendency may continue 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

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, 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”

In the H4 chart, USDCAD is trading above 5/8. In this case, the pair may continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8. After that, the instrument may start a new descending correction towards the support at 5/8.

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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