Murrey Math Lines 11.03.2020 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is moving close to 3/8. In this case, the pair is expected to break this level and then continue falling towards the support at 2/8. 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.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 2/8 from the H4 chart.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the pair is moving inside the “overbought area”. In this case, USDCAD may break 8/8 and then continue falling to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks +1/8 to the upside. After that, the instrument may continue growing towards the resistance at +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is moving close to 3/8. In this case, the pair is expected to break this level and then continue falling towards the support at 2/8. 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.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 2/8 from the H4 chart.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the pair is moving inside the “overbought area”. In this case, USDCAD may break 8/8 and then continue falling to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks +1/8 to the upside. After that, the instrument may continue growing towards the resistance at +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is moving close to 3/8. In this case, the pair is expected to break this level and then continue falling towards the support at 2/8. 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.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 2/8 from the H4 chart.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the pair is moving inside the “overbought area”. In this case, USDCAD may break 8/8 and then continue falling to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks +1/8 to the upside. After that, the instrument may continue growing towards the resistance at +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.