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Murrey Math Lines 21.10.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY is moving below the 200-day Moving Average, thus indicating a possible descending tendency. In this case, the price is expected to break 5/8 and then continue falling towards the support at 4/8. However, this scenario may no longer be valid if the price breaks 6/8 to the upside. After that, the instrument may continue growing to reach the resistance at 7/8.

Murrey Math Lines 21.10.2020 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 downside line of the VoltyChannel indicator and, as a result, continue moving downwards.

Murrey Math Lines 21.10.2020  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”

In the H4 chart of USDCAD, the situation is quite similar as the asset is also moving below the 200-day Moving Average to indicate a descending tendency. After breaking the support at 3/8, the pair is expected to continue falling towards 1/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue moving upwards to reach the resistance at 2/8.

Murrey Math Lines 21.10.2020 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 downside line of the VoltyChannel indicator and, as a result, may continue trading downwards to reach 1/8 from the H4 chart.

Murrey Math Lines 21.10.2020 USDCAD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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