Murrey Math Lines 12.02.2018 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is consolidating between the 3/8 and 5/8 levels. The price is expected to grow towards the resistance at the 5/8 level.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the pair may grow towards the 2/8 level. If later the price breaks this level, it may continue growing towards the resistance at the 3/8 one.
Risk Warning: the results 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 moving upwards.
Risk Warning: the results 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 may fall towards the support at the 0/8 level. Another scenario suggests that the price may test the 1/8 level first, rebound from it, and then continue move downwards to reach the 0/8 one.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the pair may break the 3/8 level and then continue falling towards the support at the 0/8 one.
Risk Warning: the results 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, may continue moving downwards.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
RoboForex Analytical Department
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.