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Murrey Math Lines 16.08.2019 (EURUSD, GBPUSD)

16.08.2019

EURUSD, “Euro vs. US Dollar”

In the H4 chart, EURUSD is moving below 3/8. In this case, the price is expected to continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may start a new growth towards the resistance at 4/8.

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

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, GBPUSD is still moving close to 3/8. In this case, the pair may continue falling towards the support at 1/8. However, this scenario may no longer be valid if the price breaks 3/8 and fixes above it. After that, the instrument may continue trading 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

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

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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