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Murrey Math Lines 10.08.2020 (EURUSD, GBPUSD)

10.08.2020

EURUSD, “Euro vs. US Dollar”

In the H4 chart, EURUSD is moving inside the “overbought area”. In this case, the price is expected to break 8/8 and continue falling towards the closest support at 7/8. However, this scenario may no longer be valid if the price breaks the resistance at 1/8 to the upside. After that, the instrument may continue growing to reach the next resistance at 2/8.

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 downside line of the VoltyChannel indicator and, as a result, may continue trading downwards to reach 7/8 from the H4 chart.

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 moving close to 7/8. The current situation implies that the price may break 8/8 and then continue growing with the target at 1/8. 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.

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.

GBPUSD_M15
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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