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Murrey Math Lines 05.04.2021 (EURUSD, GBPUSD)

05.04.2021

EURUSD, “Euro vs US Dollar”

On H4, the quotations are trading under the 200-days Moving Average, which indicates a downtrend. The price is also bouncing off 1/8, which increases the chances for further falling. As a result, we expect a test of the support at 0/8, a breakaway of this level, and a decline to -1/8. The scenario can be canceled by rising above 1/8. In this case, the quotations can rise to 3/8.

EURUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, another signal confirming the falling of the quotations will be a breakaway of the lower VoltyChannel line.

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”

On H4, the quotations have bounced off the resistance at 3/8. This means it might test 2/8, bounce off it, and drop to the support at 1/8. The scenario can be canceled by a breakaway of the resistance at 3/8 upwards. In this case, the quotations might rise to 5/8.

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

НOn M15, a breakaway of the lower VoltyChannel line will increase the probability of further falling.

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

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.


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