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Murrey Math Lines 02.03.2020 (EURUSD, GBPUSD)

02.03.2020

EURUSD, “Euro vs. US Dollar”

In the H4 chart, after breaking 5/8, EURUSD is moving above it. In this case, the price may continue trading upwards to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may start a new decline 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”

In the H4 chart, the pair is moving below 3/8. In this case, GBPUSD is expected to test this level, rebound from it, and then resume falling towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 4/8 and fixes above it. After that, the instrument is expected to continue growing to reach the resistance at 6/8.

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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