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Murrey Math Lines 07.12.2020 (EURUSD, GBPUSD)

07.12.2020

EURUSD, “Euro vs US Dollar”

On H4, the quotations are trading in the overbought area. A test of 2/8 is expected, followed by a bounce off this level and a decline to the support at 1/8. The scenario will no longer be valid if 2/8 is broken away, which will make Murrey math lines rearrange so that new goals for growth will be set.

Murrey Math Lines 07.12.2020 EURUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, falling can be confirmed by a breakaway of the lower border of VoltyChannel.

Murrey Math Lines 07.12.2020 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 have broken through 8/8. This means the quotations might fall to the support at 6/8. The decline will be interpreted as a correction of the uptrend. The scenario can be canceled by a breakaway of 8/8 upwards. In this case, the price will keep growing to 1/8.

Murrey Math Lines 07.12.2020 GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, a breakaway of the lower border of VoltyChannel will increase the chances for a decline.

Murrey Math Lines 07.12.2020 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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