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Murrey Math Lines 12.10.2018 (EURUSD, GBPUSD)

12.10.2018

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD is trading above the 5/8 level. In this case, the price is expected to continue growing towards the resistance at the 8/8 level.

EURUSD1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair may break the 5/8 level and then continue trading to reach the resistance at the 8/8 one.

EURUSD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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

EURUSD3
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD is trading inside the “overbought zone”. In this case, the price is expected to break the 8/8 level and continue falling towards the support at the 7/8 level.

GBPUSD1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.

GBPUSD2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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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