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Murrey Math Lines 20.03.2020 (EURUSD, GBPUSD)

20.03.2020

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD is trading inside the “oversold area”. In this case, the pair may break 0/8 and then continue growing towards the resistance at 1/8. However, this scenario may no longer be valid if the price breaks -1/8 to the downside. After that, the instrument may continue falling to reach the support at -2/8.

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 upside line of the VoltyChannel indicator and, as a result, continue moving upwards to reach 1/8 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 of GBPUSD, the situation is similar. The pair is moving inside the “oversold area”. In this case, it is also expected to break 0/8 and grow towards the resistance at 1/8. However, this scenario may no longer be valid if the price breaks -1/8 to the downside. After that, the instrument may continue falling to reach the support 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 upside line of the VoltyChannel indicator and, as a result, continue trading upwards to reach the resistance at 1/8.

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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