RoboForex - Analytics

RoboForex

872.75 5.25/10
79% of positive reviews
Real
How to join the service?

Murrey Math Lines 12.05.2021 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY is trading at the 200-day Moving Average, thus indicating no particular tendency. In this case, the price is expected to test 3/8, rebound from it, and then resume falling to reach the support at 1/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may grow towards the resistance at 4/8.

Murrey Math Lines 12.05.2021 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 downside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume the descending tendency only after rebounding from 3/8 from the H4 chart.

Murrey Math Lines 12.05.2021 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 close to 3/8. In this case, the price is expected to rebound from this level and then resume growing and correct towards the resistance at 5/8. Still, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may continue falling to reach the closest support at 2/8.

Murrey Math Lines 12.05.2021 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 12.05.2021 USDCAD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


To leave a comment you must or Join us


By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree