Murrey Math Lines 16.09.2019 (EURUSD, GBPUSD)

16.09.2019

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD has tested 3/8. In this case, the price is expected to resume falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may continue growing towards the resistance at 6/8.

EURUSD_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, may continue moving downwards.

EURUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD is trading inside the “overbought area”. In this case, the pair is expected to break 8/8 and then continue falling to reach the support at 5/8. However, this scenario may no longer be valid if the price breaks +1/8 and fixes above it. After that, the instrument may continue trading upwards to reach the resistance at +2/8.

GBPUSD_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, move upwards.

GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.