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Murrey Math Lines 01.08.2022 (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 test 3/8, break it, and then continue falling to reach the support at 2/8. Still, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 5/8.

Murrey Math Lines 01.08.2022 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 trading downwards.

Murrey Math Lines 01.08.2022 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 breaking the 200-day Moving Average, GBPUSD is trading above it to indicate a possible ascending tendency. In this case, the price is expected to break 4/8 and continue growing to reach 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 reverse and fall towards 2/8.

Murrey Math Lines 01.08.2022 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 upside line of the VoltyChannel indicator and, as a result, continue its growth.

Murrey Math Lines 01.08.2022 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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