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Murrey Math Lines 23.10.2019 (USDJPY, USDCAD)

23.10.2019

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is trading above 5/8. In this case, the price is expected to break 6/8 and then continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 5/8. After that, the instrument may start a new decline towards the support at 3/8.

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”

As we can see in the H4 chart, USDCAD is trading inside the “oversold area”. In this case, the pair is expected to break -1/8 and then continue growing to reach the resistance at 1/8. However, this scenario may no longer be valid if the price breaks -2/8. After that, the line at the chart will be redrawn, thus indicating new downside targets.

USDCAD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the pair is breaking the upside line of the VoltyChannel indicator and, as a result, may continue growing.

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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