Murrey Math Lines 13.11.2019 (USDJPY, USDCAD)

13.11.2019

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY has rebounded from the resistance at 8/8. In this case, the price may break 7/8 and then continue falling to reach the support at 5/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may start a new growth towards the resistance at +2/8.

USDJPY_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 downside line of the VoltyChannel indicator and, as a result, continue trading downwards.

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 close to 5/8. In this case, the pair is expected to rebound from this level and then resume falling to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks the resistance at 5/8. After that, the instrument may continue growing towards 6/8.

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 downside line of the VoltyChannel indicator and, as a result, continue moving downwards.

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.