Murrey Math Lines 08.12.2017 (EUR/USD, GBP/USD)

EUR USD, “Euro vs. US Dollar”

At the H4 chart, the EUR/USD pair is expected to test the 4/8 level (1.1718), rebound from it, and then resume growing towards the 5/8 one (1.1779).  

As we can see at the H1 chart, the price is trading below the consolidation range between, under the 3/8 level, which means that it may continue falling towards the support at the 0/8 level (1.1718). Later, the pair may rebound from this level and resume growing to reach the 2/8 one (1.1779).

As we can see at the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.

GBP USD, “Great Britain Pound vs US Dollar”

As we can see at the H4 chart, the GBP/USD pair is trading inside the “overbought zone”, above the resistance at the 8/8 level. The price is expected to test the resistance at the +2/8 level, break it, and then continue growing. Right now, the targets are rather difficult to define; one should wait until the lines at the chart are redrawn.

At the H1 chart, the pair is trading above the 5/8 level (1.3488). Later, the price is expected to continue moving upwards to reach main target, which is the resistance at the 8/8 level (1.3671).

As we can see at the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

RoboForex Analytical Department