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Murrey Math Lines 09.10.2019 (USDJPY, USDCAD)

9 october 2019 - Fx4News

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is trading above 5/8. In this case, the price is expected to continue growing to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8. After that, the instrument may start a new decline towards the support at 3/8.

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 upside line of the VoltyChannel indicator and, as a result, continue trading upwards.

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, yesterday USDCAD rebounded from the resistance at 5/8. In this case, the pair is expected to resume falling to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8. After that, the instrument may continue growing towards the resistance at 7/8.

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, prevent the price from falling towards 3/8 from the H4 chart.

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

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