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Murrey Math Lines 20.07.2020 (EURUSD, GBPUSD)

EURUSD, “Euro vs. US Dollar”

In the H4 chart, after fixing above 7/8, EURUSD 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 7/8 to the downside. After that, the instrument may continue falling to reach 6/8.

Murrey Math Lines 20.07.2020 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, continue trading upwards.

Murrey Math Lines 20.07.2020 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 rebounded from 5/8 several times earlier. The current situation implies that the price may rebound from the above-mentioned level again and then resume growing towards the resistance at 8/8. 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 the support at 3/8.

Murrey Math Lines 20.07.2020 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 20.07.2020 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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