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Murrey Math Lines 26.07.2021 (EURUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”

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

Murrey Math Lines 26.07.2021 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 downside line of the VoltyChannel indicator and, as a result, continue its decline.

Murrey Math Lines 26.07.2021 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”

As we can see in the H4 chart, after leaving the “oversold area” and correcting towards 2/8, GBPUSD has failed to break this level, which means that the correction within the downtrend may be over. In this case, the asset is expected to test 1/8, break it, and then continue falling 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 26.07.2021 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 downside line of the VoltyChannel indicator and, as a result, continue moving downwards.

Murrey Math Lines 26.07.2021 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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