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Murrey Math Lines 17.05.2019 (EURUSD, GBPUSD)

17.05.2019

EURUSD, “Euro vs. US Dollar”

Recently, the USD has been growing against all major currencies and only EURUSD can’t decide on where to move. The fact that the pair has broken the range downwards probably indicates that market players finally agreed on the future outlook and started pushing the price downwards, which can be seen in the daily chart. In the H4 chart, EURUSD is expected to fall towards the support at the 0/8 level. However, this scenario may be cancelled if the instrument breaks the 3/8 level. In this case, the instrument may resume trading upwards to reach the resistance at the 5/8 one.

EURUSD1
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 downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.

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”

На периоде H4 валютная пара GBPUSD достаточно быстро вышла из консолидационного диапазона и сейчас торгуется уже под уровнем 2/8. Такая ситуация указывает на то, что участники рынка уверенны в дальнейшем продолжении нисходящего тренда. Отсутствие существенных коррекций во время снижения подтверждает настрой трейдеров продолжать давление на Фунт. Таким образом можно ожидать дальнейшее снижение цены до поддержки на 0/8. Отменой этого сценария будет являться пробой уровня 3/8. Такой поворот событий окажется неожиданным для трейдеров, что может привести к резкому росту цены до сопротивления 5/8.

GBPUSD1
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 broke the downside line of the VoltyChannel indicator early in the week, that’s why it is still trading downwards and may continue the downtrend in the nearest future.

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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