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Murrey Math Lines 15.08.2022 (EURUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”

In the H4 chart, after breaking the 200-day Moving Average, EURUSD is trading below, 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 5/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 6/8.

Murrey Math Lines 15.08.2022 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.

Murrey Math Lines 15.08.2022 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”

On the H4 chart, after breaking the 200-day Moving Average, GBPUSD is also trading below it to indicate a possible descending tendency. In this case, the price is expected to break 3/8 and continue falling to reach the support at 2/8. However, this scenario may no longer be valid if the price breaks the resistance at 4/8 to the upside. After that, the instrument may reverse and grow towards 5/8.

Murrey Math Lines 15.08.2022  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 to reach 2/8 from the H4 chart.

Murrey Math Lines 15.08.2022  GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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