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Murrey Math Lines 23.03.2020 (EURUSD, GBPUSD)

23.03.2020

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD is still trading inside the “oversold area”. Last Friday, the market attempted to break the area but failed to fix above 0/8. In this case, the pair may continue falling towards the support at -2/8. However, this scenario may no longer be valid if the price breaks 0/8 to the upside. After that, the instrument may continue growing to reach the resistance 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 downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach -2/8 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 main scenario implies that the pair is expected to continue falling towards the support at -2/8. However, this scenario may no longer be valid if the price breaks 0/8 to the upside. After that, the instrument may continue growing to reach 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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