Murrey math lines: EUR/USD, GBP/USD

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

EUR/USD quotes on H4 and the RSI are in their respective overbought areas. In this situation, a test of +2/8 (1.0986) is expected, followed by a rebound from it and a price decline to the support level of 8/8 (1.0742). The scenario can be cancelled by rising above the resistance at +2/8 (1.0986), which could redraw the Murrey indication so that new price targets will be set.

On M15, the decline could additionally be supported by a breakout of the lower boundary of the VoltyChannel.

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

GBP/USD quotes on H4 and the RSI are in their respective overbought areas as well. In this situation, a test of +1/8 (1.2512) is expected, followed by a rebound from it and a price decline to the support level of 7/8 (1.2390). The scenario can be cancelled by rising above the +1/8 (1.2512) level. In this case, the price could rise to the resistance at +2/8 (1.2573).

On M15, the lower boundary of the VoltyChannel is too far from the current price, so the decline of the quotes could only be triggered by a rebound from +1/8 (1.2512) on H4.

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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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