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Murrey Math Lines 21.12.2020 (EURUSD, GBPUSD)

EURUSD, “Euro vs. US Dollar”

In the H4 chart, after breaking 8/8 and leaving the “overbought area”, EURUSD is expected to continue falling towards 6/8; this movement may be considered as a correction within the uptrend. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may continue trading upwards to reach 1/8.

Murrey Math Lines 21.12.2020 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 downside line of the VoltyChannel indicator and, as a result, may continue its decline.

Murrey Math Lines 21.12.2020 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”

In the H4 chart, GBPUSD is moving above the 200-day Moving Average, thus confirming an ascending tendency. In this case, the price is expected to test 5/8, rebound from it, and then resume moving upwards to reach the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may reverse and fall to reach the closest support at 4/8.

Murrey Math Lines 21.12.2020 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 price is moving quite far from the upside line of the VoltyChannel indicator and, as a result, may continue growing only after rebounding from 5/8 from the H4 chart.

Murrey Math Lines 21.12.2020 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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