Murrey Math Lines 29.04.2019 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is still 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, last Friday the pair tested the 0/8 level, rebounded from it, and may resume moving upwards to reach the resistance at the 3/8 one.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator again and, as a result, continue trading upwards.
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.
As we can see in the H1 chart, the pair is consolidating. In the future, the price may break the 4/8 level and continue moving upwards to reach the resistance at the 6/8 one.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading 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.