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Murrey Math Lines 08.04.2020 (USDJPY, USDCAD)

08.04.2020

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 towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may continue trading upwards to reach the support at 3/8.

USDJPY_H4 april 8
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 to reach 8/8 from the H4 chart.

USDJPY_M15 april 8
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, the pair is moving between 1/8 and 2/8. In this case, USDCAD may break 1/8 and then continue falling towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8. After that, the instrument may trade upwards to reach the resistance at 3/8.

USDCAD_H4 april 8
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 trading downwards.

USDCAD_M15 april 8
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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