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Murrey Math Lines 13.03.2020 (EURUSD, GBPUSD)

13.03.2020

EURUSD, “Euro vs. US Dollar”

In the H4 chart, EURUSD is consolidating. In this case, the pair may test 4/8, rebound from it, and then start a new decline towards the support at 2/8. However, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may continue growing to reach the resistance at 5/8.

EURUSD_H4 the pair may test 4/8
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  the pair has broken the downside line of the VoltyChannel indicato
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 inside the “oversold area”. In this case, GBPUSD is expected to break 1/8 and then start a slight correction towards the support at 0/8. However, this scenario may no longer be valid if the price breaks -2/8 and. After that, the lines in the chart will be redrawn, thus indicating new downside targets.

GBPUSD_H4 is expected to break 1/8
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. In this light, the growth towards 0/8 from the H4 chart should be considered only as an ascending correction.

GBPUSD_M15 has broken the downside line of the VoltyChannel indicator
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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