Murrey Math Lines 14.10.2019 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is trading above 5/8. In this case, the price is expected to test 5/8, rebound from it, and then resume growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may continue falling towards the support at 3/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is expected to test the support at 7/8, rebound from it, and then resume growing to reach the resistance at +1/8. However, this scenario may no longer be valid if the price breaks 7/8. After that, the instrument is expected to continue falling towards the support at 6/8, but may later resume trading upwards.
As we can see in the M15 chart, the pair has broken 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.