Murrey math lines: EUR/USD, GBP/USD

ANALYSIS | 04/19/2021 06:55:08 GMT

EUR/USD, “Euro vs US Dollar”

As we can see in the H4 chart, EURUSD is consolidating between 3/8 and 5/8. In this case, the price is expected to break 4/8 and then continue falling to reach the support at 3/8. Still, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may move upwards and reach the resistance at 5/8.

In the M15 chart, the pair may break the downside line of the Volty Channel indicator again and, as a result, continue its decline.

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

In the H4 chart, after breaking the 200-day Moving Average, GBPUSD is trading above it. In this case, the asset is expected to break 3/8 and then continue growing towards the resistance at 4/8. However, this scenario may no longer be valid if the price breaks 2/8 to the downside. After that, the instrument may continue falling to reach the support at 1/8.

As we can see in the M15 chart, the pair has broken the upside line of the Volty Channel indicator and, as a result, may continue the ascending tendency.

Share: Analysis feed

Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.