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Murrey Math Lines 17.05.2021 (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 break 7/8 and then continue growing to reach the resistance at 8/8. Still, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may correct towards the support at 5/8.

Murrey Math Lines 17.05.2021 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 to reach 8/8 from the H4 chart.

Murrey Math Lines 17.05.2021 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 7/8 and then continue growing towards the resistance at 1/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may continue the correction to reach the support at 5/8.

Murrey Math Lines 17.05.2021 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.

Murrey Math Lines 17.05.2021 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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