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Murrey Math Lines 02.08.2021 (EURUSD, GBPUSD)

02.08.2021

EURUSD, "Euro vs US Dollar"

On H4, the quotations have bounced off 3/8. This means that a test of the support at 2/8 is quite possible, followed by a breakaway and falling to 1/8. The scenario can be cancelled by growing over 3/8. In this case, the quotations might reach the resistance at 4/8.

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

On M15, another breakaway of of the lower line of the VoltyChannel indicator will make falling of the quotations more probable.

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"

On H4, the quotations have broken through the 200-days Moving Average and are trading under it, which might precede an uptrend. In these circumstances, we should expect a test of 4/8, a breakaway of this level, and growth to the resistance at 5/8. The scenario can be cancelled by a breakaway of 3/8 downwards. In this case, the quotations might drop to 2/8.

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

On M15, the upper line of VoltyChannel is too high from the current price, hence, only the breakaway of 4/8 on H4 will signal growth.

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

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.


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