rfxsignals March 4, 2020 No Comments

Murrey Math Lines 04.03.2020 (USDJPY, USDCAD)

04.03.2020

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY is moving below 3/8. In this case, the pair is expected to break 1/8 and then continue falling towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue trading upwards to reach the resistance 5/8.

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, may continue moving 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, the pair is moving below 7/8. In this case, USDCAD may continue falling to reach the support at 4/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may continue growing towards the resistance at +2/8.

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 to reach 4/8 from the H4 chart.

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