Murrey Math Lines 28.06.2019 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is still trading above 6/8. In this case, the price is expected to continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8. After that, the instrument may resume moving downwards to reach the support at 4/8.
In the M15 chart, the pair is moving between the lines of the VoltyChannel indicator, which means that the current situation is quite uncertain. If the price breaks the upside line, the instrument may continue trading upwards; otherwise – downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is trading inside the “oversold area” again. In this case, the pair may continue falling to reach the support at -1/8. However, this scenario may no longer be valid if the price breaks 0/8. After that, the instrument may resume moving upwards to reach the resistance at 2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
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.