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Murrey Math Lines 05.09.2022 (EURUSD, GBPUSD)

EURUSD, "Euro vs US Dollar"

On H4, the quotes rest under the 200-days Moving Average, which indicates the prevalence of a downtrend. We expect a test of 2/8, a breakaway of this level, and falling to the support level of 1/8. The scenario can be cancelled by a breakaway of the resistance level of 3/8 upwards. In this case, the pair might return to 5/8.

Murrey Math Lines 05.09.2022 EURUSDH4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the lower line of VoltyChannel is broken away. This confirms the downtrend and a high probability of further price falling.

Murrey Math Lines 05.09.2022 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 H4, the quotes are in the oversold area. We should expect a bounce off -2/8 and subsequent growth to the resistance level of 0/8. The scenario can be cancelled by a breakaway of -2/8 downwards, which will reshuffle Murrey lines and set new goals of price movements.

Murrey Math Lines 05.09.2022 GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, a breakaway of the upper border of VoltyChannel will increase the probability of growth to 0/8 on H4.

Murrey Math Lines 05.09.2022 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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