Murrey Math Lines 20.09.2019 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is still trading at 3/8. In this case, the price is expected to break this level and then continue growing to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 2/8 to the downside. After that, the instrument may continue falling towards the support at 0/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is trading inside the “overbought area”. In this case, the pair is expected to break +1/8 and then continue falling to reach the support at 7/8. However, this scenario may no longer be valid if the price breaks +2/8. After that, the lines in the chart will be redrawn, thus showing us new upside targets.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, move downwards.
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.