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Murrey Math Lines 30.08.2021 (EURUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, EURUSD has reached the downside border of the range at 3/8. In this case, the price is expected to rebound from this level and resume falling to reach the support at 1/8. Still, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue growing and reach the next resistance at 4/8.

Murrey Math Lines 30.08.2021 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 30.08.2021 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 below the 200-day Moving Average, thus indicating a descending tendency. In this case, the asset is expected to test 2/8, rebound from it, and then resume 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 grow to reach the resistance at 3/8.

Murrey Math Lines 30.08.2021 GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the downside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume the descending tendency only after rebounding from 2/8 from the H4 chart.

Murrey Math Lines 30.08.2021 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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