Murrey Math Lines 06.11.2017 (GBP/USD, EUR/USD)
GBP USD, “Great Britain Pound vs US Dollar”
At the H4 chart, the GBP/USD pair is trading close to the downside border of the consolidation channel at the 3/8 level at 1.3061. Later, the price is expected to break this level and continue falling towards the support at the 0/8 one at 1.2695.
As we can see at the H1 chart, the pair has broken the 3/8 level at 1.3122 and right now is trading below it. In this case, the price continue moving downwards.
At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling towards 1.2695.
EUR USD, “Euro vs. US Dollar”
As we can see at the H4 chart, the EUR/USD pair has failed to fix above the 3/8 level at 1.1657 and may resume moving downwards to reach the support at the 0/8 one at 1.1474.
At the H1 chart, the pair may break the 6/8 level at 1.1596 and continue falling towards the 4/8 one at 1.1474.
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
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.