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Murrey Math Lines 05.10.2020 (EURUSD, GBPUSD)

05.10.2020

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD is no longer moving inside the “oversold area”. In this case, the price is expected to continue growing towards the resistance at 2/8. However, this scenario may no longer be valid if the price breaks 0/8 to the downside again. After that, the instrument may continue falling to reach the closest support at -1/8.

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 upside line of the VoltyChannel indicator and, as a result, continue trading upwards.

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”

In the H4 chart, GBPUSD is moving not far from the above 200-day Moving Average. In this case, the price is expected to fix above 2/8 and then continue trading upwards to reach the closest resistance at 3/8. However, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument may continue falling to reach the support at 0/8.

GBPUSD_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 moving upwards to reach 3/8 from the H4 chart.

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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