Murrey Math Lines 29.06.2020 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is consolidating at 4/8. In this case, the price is expected to break this level to the downside and continue falling towards the support at 3/8. However, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may continue growing to reach the resistance at 5/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading 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 continue growing towards the resistance at 6/8. However, this scenario may no longer be valid if the price breaks the support at 5/8 to the downside. After that, the instrument may continue falling to reach 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.