Murrey Math Lines 08.03.2021 (EURUSD, GBPUSD)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. However, the asset has already reached the downside border of its consolidation range. In this case, the price is expected to rebound from 3/8 and then resume growing to reach the resistance at 5/8. Still, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may continue falling towards the closest support at 2/8.



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

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.

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”

As we can see in the H4 chart, GBPUSD is trading at the 200-day Moving Average. In this case, the price is expected to rebound from 1/8 and then resume growing towards the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument may continue falling and reach the support at 0/8.

GBPUSD_H4

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

In the M15 chart, the price may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards to reach 3/8 from the H4 chart.

GBPUSD_M15

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

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Source: RoboForex


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