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Murrey Math Lines 20.04.2020 (EURUSD, GBPUSD)

20.04.2020

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD is still 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 april 20
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 the descending tendency.

EURUSD_M15 april 20
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 still trading not far from the downside border of the range at 3/8; right now, it is rebounding from this level. The main scenario implies that the pair may resume growing towards the resistance at 3/8. However, this scenario may no longer be valid if the price breaks the support at 3/8 to the downside. After that, the instrument may continue falling to reach 2/8.

GBPUSD_H4 april 20
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 4/8 from the H4 chart.

GBPUSD_M15 april 20
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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