Murrey Math Lines 24.01.2020 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is moving below 3/8. In this case, the price is expected to break 2/8 and then continue trading downwards to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside After that, the instrument may continue growing towards the resistance at 5/8.
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 0/8 from the H4 chart.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is moving below 3/8. In this case, the price is expected to break 2/8 and then continue falling towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument is expected to continue growing to reach the 5/8.
In the M15 chart, the pair may break either the downside or upside line of the VoltyChannel indicator and, as a result, may resume trading either downwards or upwards.
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.