Murrey Math Lines 16.04.2018 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is consolidating at the 4/8 level. If the price breaks this level to the downside, it may continue falling towards the support at the 0/8 one.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards to reach 1.2207.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is consolidating between the 3/8 and 5/8 levels. The price is expected to fall towards the support at the 4/8 level.
In the H1 chart, the instrument may break the 5/8 level and then continue falling towards the support at the 4/8 one.
As we can see in the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 1.4160.
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