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Murrey Math Lines 21.12.2018 (EURUSD, GBPUSD)

21.12.2018

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD has rebounded from the resistance at the 8/8 level and may resume falling towards the 5/8 one.

EURUSD1
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.

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

GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, GBPUSD is still trading inside the “oversold zone”. In this case, the price may break the 0/8 level and then continue growing towards the resistance at the 1/8 one.

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

However, as we can see in the H1 chart, the pair has rebounded from the resistance at the 8/8 level and may resume moving downwards to reach the 5/8 one. As long as the price is trading below the 8/8 level, it may rather fall than grow.

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

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling.

GBPUSD3
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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