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Murrey Math Lines 06.10.2017 (EUR/USD, GBP/USD)

06.10.2017

EUR USD, “Euro vs. US Dollar”

At the H4 chart, the EUR/USD pair broke the support at the 0/8 level at 1.1718, just as expected. At the moment, the price is expected to test the -2/8 level at 1.1596.

At the H1 chart, the pair may break the -1/8 level at 1.1688 and continue falling towards 1.1596.

 

GBP USD, “Great Britain Pound vs US Dollar”

As we can see at the H4 chart, the GBP/USD pair is getting closer to the 3/8 level at 1.3061. Later, the price is expected to rebound from this level and start another correction towards the 4/8 or 5/8 levels.

At the H1 chart, the pair is trading “inside the oversold zone” below the 0/8 level., which means that the price may start a new correction to the upside.

At the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue slowly growing to reach 1.3183 or even 1.3305.

 

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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