Murrey Math Lines 18.01.2019 (EURUSD, GBPUSD)
In the H4 chart, EURUSD is trading below the 3/8 level and may continue falling towards the 0/8 one.
In the H1 chart, the pair is expected to start a new correction from the 0/8 level towards the resistance at the 3/8 one and then resume trading to the downside.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is trading above the 5/8 level and may continue growing towards the resistance at the 8/8 one.
In the H1 chart, the pair is trading inside the “overbought zone”. If the price breaks the 2/8 level, the lines at the chart will be redrawn. However, as long as the pair is trading below the 2/8 level, the instrument may break the 8/8 level and then continue falling towards the support at the 5/8 one.
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.