Article By RoboForex.com
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is trading above the 200-day Moving Average, thus indicating an ascending tendency. Having broken 7/8 and fixed above it, the price is expected to continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may reverse and correct towards the support at 6/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.
Free Reports:
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is re-testing the resistance at 8/8. In this case, the price is expected to rebound from this level and then resume falling towards the support at 6/8. Still, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may grow to reach the resistance at +1/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling to reach 6/8 from the H4 chart.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
- Stock indices sell-off amid rising geopolitical tensions in the Middle East. China’s GDP grew the most in a year Apr 16, 2024
- New FXTM commodity hits all-time high! Apr 16, 2024
- NZD hits five-month low against strong US dollar Apr 16, 2024
- Escalating conflict in the Middle East is forcing investors to shift funds to safe assets Apr 15, 2024
- US dollar exhibits remarkable strength amid global tensions Apr 15, 2024
- COT Metals Charts: Speculator bets led higher by Copper & Platinum Apr 13, 2024
- COT Bonds Charts: Speculator Bets led by 10-Year & 5-Year Bonds Apr 13, 2024
- COT Soft Commodities Charts: Speculator Bets led by Soybean Meal & Lean Hogs Apr 13, 2024
- COT Stock Market Charts: Weekly Speculator Bets led by VIX & S&P500-Mini Apr 13, 2024
- Singapore’s central bank (MAS) maintained its monetary policy settings. The ECB hinted at a rate cut soon Apr 12, 2024
