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Murrey Math Lines 01.03.2021 (EURUSD, GBPUSD)

EURUSD, “Euro vs. US Dollar”

In the H4 chart, after breaking the 200-day Moving Average, EURUSD is trading below it. In this case, the price is expected to continue falling to reach the closest support at 5/8. However, this scenario may no longer be valid if the price breaks 7/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 8/8.

Murrey Math Lines 01.03.2021 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.

Murrey Math Lines 01.03.2021 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 breaking 3/8, GBPUSD is trading below it. In this case, the price is expected to break the support at 2/8 and then continue the correction towards 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 growing and reach the resistance at 4/8.

Murrey Math Lines 01.03.2021 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 01.03.2021 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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