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Murrey Math Lines 03.05.2021 (EURUSD, GBPUSD)

03.05.2021

EURUSD, “Euro vs US Dollar”

In the H4 chart, EURUSD is trading close to 5/8. In this case, the price is expected to break this level and then continue falling to reach the support at 4/8. Still, this scenario may no longer be valid if the price breaks 6/8 to the upside. After that, the instrument may grow to reach the resistance at 7/8.

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.

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 the 200-day Moving Average, GBPUSD is trading below it, thus indicating a descending tendency. In this case, the asset 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 growing to reach the resistance at 4/8.

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 pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue the descending tendency.

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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