Murrey Math Lines 01.07.2019 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is still trading at 6/8. If the price rebounds from this level, it may continue growing to reach the resistance at 8/8. Otherwise, the instrument may break it and then continue moving downwards to reach the support at 4/8.
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 trading downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is trading at 0/8. In this case, the pair may resume growing to reach the resistance at 2/8. However, this scenario may no longer be valid if the price breaks 0/8. After that, the instrument may resume moving downwards to reach the support at -1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.