Murrey Math Lines 26.04.2019 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is trading inside the “oversold zone”. In this case, the price may break the -1/8 level and continue its growth to reach the resistance at the 0/8 one.
In the H1 chart, the pair may test the 0/8 level, rebound from it, and then move upwards to reach the resistance at the 3/8 one.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is trading inside the “oversold zone”. In this case, the price is expected to break the 0/8 level and continue trading to reach the resistance at the 1/8 level.
However, as we can see in the H1 chart, the pair is no longer consolidating; right now, it is trading below the 3/8 level. In the future, the price may continue moving downwards to reach the support at the 0/8 level.
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 trading 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.