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Murrey Math Lines 19.10.2020 (EURUSD, GBPUSD)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD is moving below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to continue falling towards 1.1596. However, this scenario may no longer be valid if the price breaks 1/8 to the upside. After that, the instrument may continue growing to reach the resistance at 2/8.

Murrey Math Lines 19.10.2020 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 downside line of the VoltyChannel indicator and, as a result, continue trading downwards.

Murrey Math Lines 19.10.2020  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”

As we can see in the H4 chart, GBPUSD is moving below 3/8. In this case, the price is expected to break 2/8 and then continue trading downwards to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may continue growing to reach the closest resistance at 3/8.

Murrey Math Lines 19.10.2020  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 downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 0/8 from the H4 chart.

Murrey Math Lines 19.10.2020 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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