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Murrey Math Lines 29.12.2017 (EUR/USD, GBP/USD)

29.12.2017

EUR USD, “Euro vs. US Dollar”

As we can see at the H4 chart, the EUR/USD pair is expected to test the resistance at the 8/8 level, rebound from it, and then resume falling towards the support at the 5/8 one.

EURUSD1

At the H1 chart, the price is also expected to test the resistance at the 8/8 level, rebound from it, and then resume falling, but here the first target is at the 5/8 one (1.1871). If later this level is broken as well, the instrument may continue falling.

EURUSD2

At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading to the downside to reach the main target at 1.1779.

EURUSD3

 

GBP USD, “Great Britain Pound vs US Dollar”

At the H4 chart, the GBP/USD pair is consolidating between the 3/8 and 5/8 levels. The price is expected to test the resistance at the 5/8 level, rebound from it, and then continue falling towards the 4/8 one.

GBPUSD1

As we can see at the M15 chart, the pair is trading inside the “overbought zone” above the 8/8 level. Later, the price is expected to test the 2/8 level, rebound from it, and then resume falling towards the 6/8 one. If the instrument breaks the 1/8 level, it may continue moving to the downside without testing the 2/8 one.

GBPUSD2

At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading towards 1.3366.

GBPUSD3

 

RoboForex Analytical Department

 

Attention!

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.



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