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Murrey Math Lines 31.08.2020 (EURUSD, GBPUSD)

31.08.2020

EURUSD, “Euro vs. US Dollar”

On H4, the quotations have broken the level of 5/8 and are now trading above the consolidation range. We expect further growth to the resistance at 7/8. This scenario will be canceled if the quotations break 5/8 away top-down, which will mean another decline to the support level of 4/8.

Murrey Math Lines 31.08.2020 EURUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the quotations have broken away the upper line of the VoltyChannel indicator, which augments the probability of further growth.

Murrey Math Lines 31.08.2020 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”

On H4, the quotations are also trading above the consolidation range. We are considering further growth to 7/8. This scenario may only become invalid if 5/8 is broken away downwards, which may bring the quotations to the support at 4/8.

Murrey Math Lines 31.08.2020 GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the lower border of the VoltyChannel indicator is broken away, which confirms the probability of growth to 7/8 from H4.

Murrey Math Lines 31.08.2020 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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