Murrey Math Lines 22.12.2017 (EUR/USD, GBP/USD)
EUR USD, “Euro vs. US Dollar”
At the H4 chart, the EUR/USD pair is trading close to the 6/8 level. The price is expected to continue growing towards the resistance at the 8/8 one.
As we can see at the H1 chart, the price is consolidating between the 3/8 and 5/8 levels. If the price beaks the 5/8 level, the instrument may continue moving upwards to reach the resistance at the 8/8 one.
GBP USD, “Great Britain Pound vs US Dollar”
At the H4 chart, the GBP/USD pair is expected to break 7/8 level and continue falling towards the 5/8 one.
As we can see at the H1 chart, here the pair may continue falling after breaking the 6/8 level. The main target is at the 2/8 level.
At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 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.