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Murrey Math Lines 29.08.2022 (EURUSD, GBPUSD)

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 2/8, break it, and then continue falling to reach the support at 1/8. Still, this scenario may no longer be valid if the price breaks the resistance at 3/8 to the upside. After that, the instrument may reverse and grow towards 5/8.

Murrey Math Lines 29.08.2022 EURUSD
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.

Murrey Math Lines 29.08.2022 EURUSD
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 moving inside the “oversold area”. In this case, the price is expected to rebound from -1/8 and resume growing to reach the resistance at 2/8. However, this scenario may no longer be valid if the price breaks -1/8 to the downside. After that, the instrument may continue falling towards the support at -2/8.

Murrey Math Lines 29.08.2022 GBPUSD
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 upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume trading upwards only after rebounding from -1/8 in the H4 chart.

Murrey Math Lines 29.08.2022 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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