Murrey Math Lines: EUR/USD, GBP/USD

RoboForex Team RoboForex

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.

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

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.

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 "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.

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, continue trading downwards.

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

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RoboForex Team

RoboForex

RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.

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