Murrey Math Lines 18.12.2017 (EUR/USD, GBP/USD)
EUR USD, “Euro vs. US Dollar”
As we can see at the H4 chart, the EUR/USD pair is expected to test the 5/8 level, rebound from it, and then resume falling towards the 4/8 one. However, if the price breaks this level to the upside, the instrument may continue growing towards the target at the 8/8 one.
At the H1 chart, the price may break the 1/8 level (1.1810) and continue falling to reach the support at the 0/8 one.
As we can see at the M15 chart, the pair is trading below the upside line of the VoltyChannel indicator, which means that it continue trading to the downside.
GBP USD, “Great Britain Pound vs US Dollar”
At the H4 chart, just as expected earlier, the GBP/USD pair broke the 8/8 level and right now trading below it. The price hasn’t reached the downside target yet, that’s why the instrument is expected to form another descending wave to break the 6/8 level and reach the 5/8 one.
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 falling towards 1.3244.
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.