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Murrey Math Lines 19.07.2021 (EURUSD, GBPUSD)

19.07.2021

EURUSD, “Euro vs US Dollar”

In the H4 chart, EURUSD is still trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 1/8 and continue falling to reach the support at 0/8. Still, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may correct towards the resistance at 3/8.

Murrey Math Lines 19.07.2021 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 downside line of the VoltyChannel indicator and, as a result, may continue its decline to reach 0/8 from the H4 chart.

Murrey Math Lines 19.07.2021 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 of GBPUSD, the pair also is trading below the 200-day Moving Average to indicate a descending tendency. In this case, the asset is expected to break 1/8 and then continue trading within the downtrend towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may correct upwards to reach the resistance at 3/8.

Murrey Math Lines 19.07.2021 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 downside line of the VoltyChannel indicator and, as a result, may continue falling.

Murrey Math Lines 19.07.2021 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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