Murrey Math Lines 31.08.2017 (EUR/USD, GBP/USD)

EUR USD, “Euro vs. US Dollar”

As we can see at the H4 chart, the EUR/USD pair has reached the support at the 5/8 level at 1.1840. Later, the price is expected to rebounds from this level and resume growing towards the 8/8 one at 1.2207. Otherwise, the instrument may continue falling towards the 3/8 level at 1.1595.

At the H1 chart, the pair is expected to test the 2/8 level at 1.1840. If the instrument rebounds from it and breaks the 3/8 one at 1.1901, the price may move upwards to reach 1.2207.

At the M15 chart, the price may break the upside line of the VoltyChannel indicator and, as a result, grow to reach 1.2207.

GBP USD, “Great Britain Pound vs US Dollar”

As we can see at the H4 chart, the GBP/USD pair is consolidating. The price is expected to test the 5/8 level at 1.3000, rebound from it, and then resume falling towards the 0/8 one at 1.2695.

At the H1 chart, the price is trading close to the resistance at the 8/8 level (1.2935). If the price breaks the 7/8 level at 1.2908, the pair may fail to test 1.3000 and continue moving downwards to reach 1.2695.

RoboForex Analytical Department