Murrey Math Lines 29.12.2017 (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 resistance at the 8/8 level, rebound from it, and then resume falling towards the support at the 5/8 one.

At the H1 chart, the price is also expected to test the resistance at the 8/8 level, rebound from it, and then resume falling, but here the first target is at the 5/8 one (1.1871). If later this level is broken as well, the instrument may continue falling.

At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading to the downside to reach the main target at 1.1779.

GBP USD, “Great Britain Pound vs US Dollar”

At the H4 chart, the GBP/USD pair is consolidating between the 3/8 and 5/8 levels. The price is expected to test the resistance at the 5/8 level, rebound from it, and then continue falling towards the 4/8 one.

As we can see at the M15 chart, the pair is trading inside the “overbought zone” above the 8/8 level. Later, the price is expected to test the +2/8 level, rebound from it, and then resume falling towards the 6/8 one. If the instrument breaks the +1/8 level, it may continue moving to the downside without testing the +2/8 one.

At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading towards 1.3366.

RoboForex Analytical Department