Murrey Math Lines 17.08.2018 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is trading below the 3/8 level. In this case, the price is expected to test the 3/8 level, rebound from it, and then continue falling towards the support at the 0/8 one.
As we can see in the H1 chart, the pair has left the “oversold zone” and may continue growing towards the resistance at the 3/8 level, which is a bit higher than in the H4 chart.
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 grow towards the resistance at the 2/8 level. As we can see in the H1 chart, the price has rebounded from the support at the 0/8 level and may resume growing to reach the 2/8 one.
In the H1 chart, the pair may break the 3/8 level and then continue trading upwards to reach the resistance at the 5/8 one.
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.