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Murrey Math Lines 05.06.2020 (EURUSD, GBPUSD)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the lines have been redrawn. At the moment, EURUSD is trading at 5/8. In this case, the price is expected to rebound from this level and then resume falling towards the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue growing to reach the resistance at 6/8.

Murrey Math Lines 05.06.2020 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 trading downwards.

Murrey Math Lines 05.06.2020 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”

As we can see in the H4 chart, GBPUSD is approaching very strong resistance at 8/8. In this case, the price is expected to rebound from this level and then resume falling towards the support at 6/8. However, this scenario may no longer be valid if the price breaks at 8/8 to the upside. After that, the instrument may continue growing to reach the resistance at 1/8.

Murrey Math Lines 05.06.2020 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 moving downwards to reach 6/8 from the H4 chart.

Murrey Math Lines 05.06.2020 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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