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Murrey Math Lines 29.05.2020 (EURUSD, GBPUSD)

EURUSD, “Euro vs. US Dollar”

In the H4 chart, after breaking the upside border of the consolidation range at 5/8, EURUSD is expected to continue growing towards the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may continue falling to reach 3/8.

Murrey Math Lines 29.05.2020 EURUSD_H4
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 upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

Murrey Math Lines 29.05.2020 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”

In the H4 chart, GBPUSD is consolidating at 5/8. The main scenario implies that the pair may break this level to the upside and then continue growing towards the resistance at 6/8. However, this scenario may no longer be valid if the price breaks at 5/8 to the downside. After that, the instrument may continue falling to reach the support at 4/8.

Murrey Math Lines 29.05.2020 GBPUSD_H4
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 upside line of the VoltyChannel indicator and, as a result, may continue moving upwards to reach 6/8 from the H4 chart.

Murrey Math Lines 29.05.2020 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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