Murrey Math Lines 27.09.2019 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD moving downwards close to 3/8. In this case, the price is expected to continue falling towards the support at 1/8. However, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may continue growing towards the resistance at 5/8.
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.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is trading at 5/8. In this case, the pair is expected to rebound from this level and then resume growing to reach the resistance at 6/8. If it happens, the pair may later rebound from the resistance and start a new decline towards the support at 4/8. However, this scenario may no longer be valid if the price breaks 5/8. After that, the instrument may continue falling towards the support at 4/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving 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.