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Murrey Math Lines 05.08.2019 (EURUSD, GBPUSD)

05.08.2019

EURUSD, “Euro vs. US Dollar”

In the H4 chart, EURUSD is still moving to the downside. In this case, the price may test 3/8, rebound from it, and start a new decline to reach the support at 2/8.

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

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”

As we can see in the H4 chart, the downtrend continues. In this case, GBPUSD may rebound from 3/8 and then resume falling towards the support at 1/8. However, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may start a new correction to the upside 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

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

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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