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Murrey Math Lines 18.12.2019 (USDJPY, USDCAD)

18.12.2019

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is moving inside the “overbought area”. In this case, the price is expected to break 8/8 and then continue falling to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks 1/8 to the upside. After that, the instrument may start a new growth towards the resistance 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 downside line of the VoltyChannel indicator and, as a result, continue trading downwards.

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 consolidating. In this case, the pair may break 4/8 and resume growing to reach 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

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