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Murrey Math Lines 29.10.2020 (EURUSD, XAUUSD, BRENT)

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.1754; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.1780 and then resume moving downwards to reach 1.1665. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.1810. In this case, the pair may continue growing towards 1.1905.

Murrey Math Lines 29.10.2020  EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1883.00; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1890.00 and then resume moving downwards to reach 1850.00. Another signal in favor of further downtrend will be a rebound from a Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1900.00. In this case, the pair may continue growing towards 1945.00.

Murrey Math Lines 29.10.2020 XAUUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent is trading at 39.77; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 40.35 and then resume moving downwards to reach 37.75. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 41.05. In this case, the pair may continue growing towards 42.65.

Murrey Math Lines 29.10.2020 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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