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Murrey Math Lines 17.04.2020 (EURUSD, GBPUSD)

17.04.2020

EURUSD, “Euro vs. US Dollar”

In the H4 chart, EURUSD is moving at 1/8. In this case, the pair may continue falling towards the target at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may continue growing to reach the resistance at 3/8.

EURUSD_H4 is moving at 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 the descending tendency.

EURUSD_M15 may continue the descending tendency
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 rebounding from the downside border of the range at 3/8. The main scenario implies that the pair is expected to continue growing towards 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 to reach the support at 2/8.

GBPUSD_H4 is rebounding from the downside border of the range at 3/8
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.

GBPUSD_M15 continue trading upwards
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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