Murrey Math Lines 29.01.2018 (EUR/USD, GBP/USD)

EUR USD, “Euro vs. US Dollar”

At the H4 chart, the EUR/USD pair is expected to test the support at the 5/8 levels, rebound from it, and then resume growing towards the 7/8 one.

At the H1 chart, the pair is consolidating between the 3/8 and 5/8 levels. If the price breaks the 4/8 level, the instrument may resume growing towards the 6/8 one. However, if the pair breaks the 3/8 level, it may continue falling to reach the 2/8 one.

GBP USD, “Great Britain Pound vs US Dollar”

As we can see at the H4 chart, the GBP/USD pair is trading below the 2/8 level. In this case, there are two possible scenarios. The first scenario implies that the pair may break the 2/8 level and resume growing towards the 3/8 one. The other one suggests that the instrument may rebound the 2/8 level and then continue falling to reach the 1/8 one.

At the H1 chart, the pair is consolidating between the 3/8 and 5/8 levels. If the price rebounds from the 4/8 level, it may continue falling towards the 3/8 level, break this level as well, and then move downwards to reach the 2/8 one. However, if the breaks the 4/8 level, it may grow towards the 5/8 level, break it, and then continue moving upwards to reach the 6/8 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.

RoboForex Analytical Department