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Murrey Math Lines 27.05.2019 (EURUSD, GBPUSD)

27.05.2019

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD has broken the 3/8 level upwards. Right now, it is consolidating and may continue growing to reach the resistance at the 5/8 one. However, there is a possibility that the price may break the 3/8 level downwards, because it has significantly grown over the previous two trading sessions and may require a slight correction before continuing its ascending tendency. As a result. The instrument may break the 3/8 level and then reach the 2/8 level. After that, the pair may resume moving upwards.

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 upside line of the VoltyChannel indicator and, as a result, may trade upwards to continue the short-term ascending tendency.

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 was expected to leave the “oversold zone” last Friday. The price succeeded; it has already broken the 0/8 level and right now is trading above it. In this case, the pair may continue growing to reach the resistance at 3/8 level. However, this scenario may no longer be valid if the instrument breaks the 0/8 level. After that, the price may resume falling towards the support at the -2/8 one.

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 has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.

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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