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Murrey Math Lines 05.07.2019 (EURUSD, GBPUSD)

05.07.2019

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, after breaking 5/8, EURUSD is consolidating. In this case, the price may continue falling to reach the support at 4/8. However, this scenario may no longer be valid if the price breaks the range to the upside. After that, the instrument may resume moving upwards to reach the resistance at 7/8.

EURUSD_H4
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 trading downwards to reach 4/8 from the H4 chart.

EURUSD_M15
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 trading below 3/8. In this case, the pair may break 2/8 and continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price is back inside the consolidation range after breaking 3/8. After that, the instrument may resume moving upwards to reach the resistance at 5/8.

GBPUSD_H4
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 trading downwards.

GBPUSD_M15
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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