Murrey Math Lines 25.10.2019 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the rising tendency has stopped at 7/8. In this case, the price may complete the tendency and then start a new decline towards the support at 4/8. However, this scenario may no longer be valid if the price breaks 6/8 to the upside. After that, the instrument may continue growing and test the resistance at 7/8 again.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may resume moving downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD has rebounded from 5/8. In this case, the price is expected to resume growing to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8. After that, the instrument is expected to continue falling towards the support at 3/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards to reach 7/8 from the H4 chart.
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.