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Murrey Math Lines 10.11.2021 (USDJPY, USDCAD)

10.11.2021

USDJPY, “US Dollar vs Japanese Yen”

On H4, the quotations are trading in a consolidation range between 3/8 and 5/8. In this case, we expect a test of 4/8, a bounce off it, and growth to the resistance level of 5/8. This scenario can be cancelled by a breakaway of 4/8 downwards. In this situation, the quotations will continue the decline to the support level of 3/8.

USDCHFH4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the growth can be confirmed by a breakaway of the upper line of VoltyChannel.

USDCHF_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

On H4, the quotations are trading under the 200-days Moving Average, which hints on a prevailing downtrend. In this case, we expect a bounce off 6/8 and a subsequent decline to the support level of 5/8. The scenario can be cancelled by a breakaway of 6/8 upwards. This can reverse the trend and make the pair grow to the resistance level of 7/8.

USDCAD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the decline can be confirmed by a breakaway of the lower line of VoltyChannel.

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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