USDJPY, “US Dollar vs Japanese Yen”
The H4 quotes are below the 200-day Moving Average. This indicates that there is a downtrend. The ascending trendline downwards was broken by the RSI. This means that we can expect a test. 2/8 (140.62), a breakaway and falling to support level 1/8 (139.06). This scenario can be canceled by increasing the resistance level to 3/8 (142.18). In this scenario, the pair might rise to 4/8 (143.75).
The probability of a decrease in M15 will be increased by a breakaway at the lower VoltyChannel Line.
USDCAD, “US Dollar vs Canadian Dollar”
The USDCAD pair has a similar situation. The H4 quotes are below the 200-day Moving Average and the RSI has breached the ascending trendline. A breakaway of 1/8 Expected fall to (1.3305) 0/8 (1.3183). This scenario can be canceled by increasing the resistance level 2/8 (1.3427). This case, the pair could reach 3/8 (1.3549).
The lower VoltyChannel Line is now broken away on M15. This is a sign of a downward trend and high likelihood of falling further.
Article by RoboForex.com
Forecasts presented in this section only reflect the author’s private opinion and…