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Murrey Math Lines 28.03.2022 (EURUSD, GBPUSD)

28.03.2022

EURUSD, “Euro vs US Dollar”

In the H4 chart, EURUSD is trading below the 200-day Moving Average to indicate a possible 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 the resistance at 2/8 to the upside. After that, the instrument may reverse and correct up to 3/8.

EURUSDH4
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 trading downwards.

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, GBPUSD is also trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to continue falling to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may correct up to the resistance at 5/8.

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 downside line of the VoltyChannel indicator and, as a result, may continue its decline.

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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