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Murrey Math Lines 12.10.2020 (EURUSD, GBPUSD)

EURUSD, “Euro vs. US Dollar”

In the H4 chart, EURUSD is moving above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 2/8 and then continue growing towards the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 1/8 to the downside again. After that, the instrument may continue falling to reach the closest support at 0/8.

Murrey Math Lines 12.10.2020 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 12.10.2020  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”

In the H4 chart, after breaking the 200-day Moving Average, GBPUSD is moving above it, thus indicating a possible ascending tendency. In this case, the price is expected to break 3/8 and then continue trading upwards to reach the resistance at 4/8. However, this scenario may no longer be valid if the price breaks 2/8 to the downside. After that, the instrument may continue falling to reach the support at 1/8.

Murrey Math Lines 12.10.2020  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 4/8 from the H4 chart.

Murrey Math Lines 12.10.2020  GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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