Murrey math lines: EUR/USD, GBP/USD

RoboForex Team RoboForex

EUR/USD, "Euro vs US Dollar"

EUR/USD quotes have reached the oversold area on H4. A convergence has formed on the RSI. In this situation, a rebound from 0/8 (1.0742) is expected, followed by a price rise to the resistance at 2/8 (1.0986). The scenario could be cancelled by a downward breakout of the support at 0/8 (1.0742), in which case the pair might drop to the -1/8 (1.0620) level.

On M15, the price rise could be additionally supported by a breakout of the upper boundary of the VoltyChannel.

GBP/USD, "Great Britain Pound vs US Dollar"

GBP/USD quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI is approaching the oversold area. In these circumstances, a test of 6/8 (1.2451) is expected, followed by a rebound from this level and a rise to the resistance at 8/8 (1.2695). The scenario could be cancelled by a downward breakout of the 6/8 (1.2451) level, which might lead to a trend reversal and a decline to the support at 5/8 (1.2329).

On M15, after a rebound from 6/8 (1.2451), the price growth might be additionally supported by a breakout of the upper boundary of the VoltyChannel.

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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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