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Murrey Math Lines 06.07.2020 (EURUSD, GBPUSD)

EURUSD, “Euro vs. US Dollar”

In the H4 chart, EURUSD is consolidating. Earlier, the price rebounded from 4/8 and may continue growing towards the resistance at 5/8. Later, the pair may break the latter level as well and reach the next resistance at 6/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may continue falling to reach the support at 3/8.

Murrey Math Lines 06.07.2020  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 06.07.2020  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 has rebounded from 6/8. In this case, the price is expected to continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks the support at 6/8 to the downside. After that, the instrument may continue falling to reach 5/8.

Murrey Math Lines 06.07.2020  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 upside line of the VoltyChannel indicator and, as a result, continue moving upwards.

Murrey Math Lines 06.07.2020  GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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