Murrey Math Lines 07.12.2018 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is trading below the 3/8 level. In this case, the price may break the 2/8 level and then continue falling towards the support at the 0/8 one.
In the H1 chart, the pair may break the 5/8 level and continue falling to reach the support at the 0/8 one.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD rebounded from the support at the 0/8 level yesterday. In this case, the price may resume growing towards the resistance at the 3/8 level.
In the H1 chart, the pair may break the 3/8 level and continue moving upwards to reach the resistance at the 5/8 one.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
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.