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Murrey Math Lines 29.01.2018 (EUR/USD, GBP/USD)

29.01.2018

EUR USD, “Euro vs. US Dollar”

At the H4 chart, the EUR/USD pair is expected to test the support at the 5/8 levels, rebound from it, and then resume growing towards the 7/8 one.

EURUSD1

At the H1 chart, the pair is consolidating between the 3/8 and 5/8 levels. If the price breaks the 4/8 level, the instrument may resume growing towards the 6/8 one. However, if the pair breaks the 3/8 level, it may continue falling to reach the 2/8 one.

EURUSD2

 

GBP USD, “Great Britain Pound vs US Dollar”

As we can see at the H4 chart, the GBP/USD pair is trading below the 2/8 level. In this case, there are two possible scenarios. The first scenario implies that the pair may break the 2/8 level and resume growing towards the 3/8 one. The other one suggests that the instrument may rebound the 2/8 level and then continue falling to reach the 1/8 one.

GBPUSD1

At the H1 chart, the pair is consolidating between the 3/8 and 5/8 levels. If the price rebounds from the 4/8 level, it may continue falling towards the 3/8 level, break this level as well, and then move downwards to reach the 2/8 one. However, if the breaks the 4/8 level, it may grow towards the 5/8 level, break it, and then continue moving upwards to reach the 6/8 one.

GBPUSD2

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 falling.

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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