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Murrey Math Lines 08.12.2017 (EUR/USD, GBP/USD)

08.12.2017

EUR USD, “Euro vs. US Dollar”

At the H4 chart, the EUR/USD pair is expected to test the 4/8 level (1.1718), rebound from it, and then resume growing towards the 5/8 one (1.1779).  

EURUSD1

As we can see at the H1 chart, the price is trading below the consolidation range between, under the 3/8 level, which means that it may continue falling towards the support at the 0/8 level (1.1718). Later, the pair may rebound from this level and resume growing to reach the 2/8 one (1.1779).

EURUSD2

As we can see at the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.

EURUSD3

 

GBP USD, “Great Britain Pound vs US Dollar”

As we can see at the H4 chart, the GBP/USD pair is trading inside the “overbought zone”, above the resistance at the 8/8 level. The price is expected to test the resistance at the 2/8 level, break it, and then continue growing. Right now, the targets are rather difficult to define; one should wait until the lines at the chart are redrawn.

GBPUSD1

At the H1 chart, the pair is trading above the 5/8 level (1.3488). Later, the price is expected to continue moving upwards to reach main target, which is the resistance at the 8/8 level (1.3671).

GBPUSD2

As we can see at the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

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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