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Murrey Math Lines 04.10.2017 (GBP/USD, AUD/USD)

04.10.2017

GBP USD, “Great Britain Pound vs US Dollar”

As we can see at the H4 chart, the GBP/USD pair is consolidating between the 3/8 and 5/8 levels at 1.3061 and 1.3305 respectively. Right now, the price expected to test the 4/8 level, break it, and fall towards the 3/8 one. However, if the instrument breaks the 5/8 level and fixes above it, the pair may continue growing to reach the 6/8 one at 1.3427.

At the H1 chart, there are several support levels the pair may face on its way to 1.3061 and they may really reverse the tendency. When the price reaches the 0/8 level at 1.3183, one should check the VoltyChannel indicator at the M15 chart. If the price breaks the upside line of the indicator, it may continue rising up to 1.3427. the same may happen from any level that is below 1.3183.

 

AUD USD, “Australian Dollar vs US Dollar”

At the H4 chart, the AUD/USD pair managed to break the support at the 0/8 level at 0.7812 yesterday. As a result, later the price may grow towards the 3/8 level at 0.7995.

At the H1 chart, we can see the resistance at the 3/8 level at 0.7904 the price may face on its way to 0.7995. After reaching this resistance level, the instrument may be corrected towards the 2/8 one at 0.7873, rebound from it, and then resume moving upwards with the target at 0.7995.

 

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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