Murrey Math Lines 17.01.2020 (EURUSD, GBPUSD)

17.01.2020

EURUSD, “Euro vs. US Dollar”

In the H4 chart, EURUSD is consolidating again. In this case, the price is expected to resume trading downwards to reach the support at 3/8. After that, the instrument may break this level and continue falling towards the support at 1/8.

EURUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 3/8 and 1/8 from the H4 chart.

EURUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, GBPUSD has broken 2/8. In this case, the price is expected to return into the consolidation range and trade towards 5/8. However, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument is expected to continue falling to reach the support at -2/8.

GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards to reach 5/8 from the H4 chart.

GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.