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Murrey Math Lines 31.05.2021 (EURUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”

As we can see 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 8/8 and continue growing to reach the resistance at 1/8. Still, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may continue falling towards 5/8.

Murrey Math Lines 31.05.2021 EURUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.

Murrey Math Lines 31.05.2021 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”

As we can see in the H4 chart, GBPUSD is trading the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to test 1/8, break it, and then continue growing towards the resistance at 2/8. However, this scenario may no longer be valid if the price breaks 8/8 to the downside. After that, the instrument may continue trading downwards to reach the support at 7/8.

Murrey Math Lines 31.05.2021 GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue the ascending tendency.

Murrey Math Lines 31.05.2021  GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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