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Murrey Math Lines 03.06.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY is moving 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 downwards to reach the support at 3/8.

Murrey Math Lines 03.06.2020 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 moving upwards.

Murrey Math Lines 03.06.2020 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 moving inside the “oversold area”. In this case, the pair is expected to break -1/8 and then continue growing towards the resistance at 1/8. However, this scenario may no longer be valid if the price breaks -2/8 to the upside. After that, the lines in the chart will be redrawn to help us define the next downside targets.

Murrey Math Lines 03.06.2020 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 trading upwards.

Murrey Math Lines 03.06.2020 USDCAD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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