Murrey math lines: EUR/USD, GBP/USD

RoboForex Team RoboForex

EUR/USD, “Euro vs. US Dollar”

In the H4 chart, EURUSD is moving inside the “overbought area”. In this case, the price is expected to break 8/8 and continue falling towards the closest support at 7/8. However, this scenario may no longer be valid if the price breaks the resistance at +1/8 to the upside. After that, the instrument may continue growing to reach the next resistance at +2/8.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.

GBP/USD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD has rebounded from the resistance at 8/8. The current situation implies that the price may break 7/8 and then continue falling towards the support at 6/8. However, this scenario may no longer be valid if the price breaks the resistance at 8/8 to the upside. After that, the instrument may continue growing to reach +1/8.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.

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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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