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Murrey Math Lines 27.12.2021 (EURUSD, GBPUSD)

27.12.2021

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 test 1/8, break it, and then 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 reverse and grow towards the resistance at 3/8.

EURUSDH4
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.

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, after breaking the 200-day Moving Average, GBPUSD is trading above it, thus indicating an ascending tendency. In this case, the price is still expected to break 4/8 and then continue growing towards the resistance at 5/8. However, this scenario may no longer be valid if the price breaks the support at 3/8 to the downside. After that, the instrument may fall to reach 2/8.

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 upside line of the VoltyChannel indicator and, as a result, may continue trading downwards.

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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