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Murrey Math Lines 06.09.2019 (EURUSD, GBPUSD)

06.09.2019

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, yesterday EURUSD rebounded from the resistance at 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 3/8 to the upside. After that, the instrument may continue growing towards the resistance at 5/8.

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, move downwards to reach the support at 0/8 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”

As we can see in the H4 chart, GBPUSD is trading above 5/8. In this case, the pair is expected to test the resistance at 7/8, rebound from it, and then resume falling to reach the support at 5/8. However, this scenario may no longer be valid if the price breaks 5/8 and fixes below it. After that, the instrument may continue trading downwards to reach the support at 3/8.

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 once again 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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