Murrey Math Lines 07.02.2018 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USDJPY is consolidating between the 3/8 and 5/8 levels. Later, the price is expected to fall towards the 3/8 level, break it, and then continue trading downwards to reach the 2/8 one.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
As we can see in the H1 chart, the price may break the 3/8 level and then continue falling towards the 0/8 one.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach the main target at 107.81.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, USDCAD is expected to test the resistance at the 7/8 level.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the pair may break the 5/8 level and then continue growing towards the 6/8 one. One shouldn’t exclude a possibility that later the price may test the 7/8 level.
Risk Warning: the results 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.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.