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Murrey Math Lines 08.02.2021 (EURUSD, GBPUSD)

EURUSD, “Euro vs. US Dollar”

In the H4 chart, after rebounding from 0/8, EURUSD is expected to correct upwards and reach 2/8. However, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument may continue falling towards the support at 0/8.

Murrey Math Lines 08.02.2021 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 upside line of the VoltyChannel indicator and, as a result, may continue its growth.

Murrey Math Lines 08.02.2021 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”

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 08.02.2021 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 upside line of the VoltyChannel indicator and, as a result, continue trading upwards to reach 2/8 from the H4 chart.

Murrey Math Lines 08.02.2021 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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