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Murrey Math Lines 29.03.2021 (EURUSD, GBPUSD)

EURUSD, “Euro vs. US Dollar”

In the H4 chart, EURUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 1/8 and then continue falling to reach the support at 0/8. Still, this scenario may no longer be valid if the price breaks the resistance at 2/8 to the upside. After that, the instrument may correct upwards and reach 3/8.

Murrey Math Lines 29.03.2021 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 29.03.2021 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”

As we can see in the H4 chart of GBPUSD, the price is also trading below the 200-day Moving Average, thus indicating a descending tendency; right now, it is rebounding from 2/8. In this case, the asset is expected to complete the correction and then resume falling towards 0/8. However, this scenario may no longer be valid if the price breaks the resistance at 2/8 to the upside. After that, the instrument may continue the correction to reach 3/8.

Murrey Math Lines 29.03.2021 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 downside line of the VoltyChannel indicator and, as a result, continue trading downwards.

Murrey Math Lines 29.03.2021 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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