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Murrey Math Lines 24.10.2022 (EURUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”

On H4, the quotes failed to rise over the 200-days Moving Average and for now remain under it. The RSI has bounced off the resistance level. A test of 0/8 (0.9765) is to be expected, followed by a breakaway and falling to the support level of -1/8 (0.9643). The scenario can be cancelled by rising above 1/8 (0.9887). This might lead to a trend reversal and growth to 2/8 (1.0009).

Murrey Math Lines 24.10.2022 EURUSDH4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, a breakaway of the lower border of VoltyChannel will increase the probability of the decline.

Murrey Math Lines 24.10.2022 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 have broken through the 200-days Moving Average and are now above it, inducating the possibility of an uptrend. The RSI have risen over the resistance level. We should expect a breakaway of 7/8 (1.1474) upwards and growth to the resistance level of 8/8 (1.1718). The scenario can be cancelled by a breakaway of the support level of 6/8 (1.1230) downwards. In this case, the decline will start again, and the quotes might drop to the support level of 5/8 (1.0986).

Murrey Math Lines 24.10.2022 GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the upper border of the VoltyChannel is broken, which increases the probability of further growth

Murrey Math Lines 24.10.2022 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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