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Murrey Math Lines 06.12.2019 (EURUSD, GBPUSD)

06.12.2019

EURUSD, “Euro vs. US Dollar”

In the H4 chart, EURUSD is consolidating. In this case, the price is expected to break 4/8 and continue trading upwards to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may continue falling towards 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, GBPUSD is moving close to the “overbought area”. In this case, the price is expected to rebound from 8/8 and then resume falling to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks 8/8. After that, the instrument is expected to continue growing towards the resistance at 2/8.

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 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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