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Murrey Math Lines 10.05.2021 (EURUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”

In the H4 chart, EURUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to rebound from 7/8 and then resume growing to reach the resistance at 8/8. Still, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may correct towards the support at 6/8.

Murrey Math Lines 10.05.2021  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 10.05.2021 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 also trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to break 6/8 and then continue growing towards the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may continue falling to reach the support at 4/8.

Murrey Math Lines 10.05.2021 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 pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue the ascending tendency towards 7/8 from the H4 chart.

Murrey Math Lines 10.05.2021 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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