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Murrey Math Lines 18.01.2021 (EURUSD, GBPUSD)

EURUSD, “Euro vs. US Dollar”

In the H4 chart, after breaking the 200-day Moving Average to the downside, EURUSD is no longer consolidating. In this case, the price is expected to continue falling towards the closest support at 2/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue trading upwards to reach the resistance at 4/8.

Murrey Math Lines 18.01.2021 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 towards 2/8 from the H4 chart.

Murrey Math Lines 18.01.2021 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 rebounding from 8/8, GBPUSD is expected to fall towards the support at 5/8. Another signal in favor of this idea will be a breakout of 6/8. However, this scenario may no longer be valid if the price breaks the resistance at 7/8 to the upside. After that, the instrument may recover and reach 8/8.

Murrey Math Lines 18.01.2021 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 has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.

Murrey Math Lines 18.01.2021 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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