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Murrey Math Lines 01.02.2021 (EURUSD, GBPUSD)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, after rebounding from 3/8, EURUSD is moving below the consolidation range. In this case, the price is expected to break 2/8 and then continue falling towards the support at 1/8. 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 01.02.2021 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 its decline.

Murrey Math Lines 01.02.2021 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”

As we can see in the H4 chart, GBPUSD is above the 200-day Moving Average within the “overbought area”, thus indicating an ascending tendency. In this case, the price is expected to break 1/8 and then continue growing towards the resistance at 2/8. However, this scenario may no longer be valid if the price breaks the support at 8/8 to the downside. After that, the instrument may continue falling and reach 7/8.

Murrey Math Lines 01.02.2021 GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the price may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.

Murrey Math Lines 01.02.2021 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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