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Murrey Math Lines 31.10.2022 (EURUSD, GBPUSD)

31.10.2022

EURUSD, “Euro vs US Dollar”

On H4, the quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI have bounced off the support line. Currently, we should expect a test of 2/8 (1.0009), a breakaway of it, and growth to the resistance level of 3/8 (1.0131). The scenario can be cancelled by a downward breakaway of the support level of 1/8 (0.9887). This might lead to a trend reversal and falling of the pair to 0/8 (0.9765).

USDJPYH4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, growth can be additionally supported by a breakaway of the upper border of VoltyChannel.

USDJPY_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 nearing 8/8 (1.1718), which is the lower border of the overbought area. The RSI is also approaching the overbought area. Currently, we should expect a test of 8/8 (1.1718), a bounce off it, and falling to the support level of 6/8 (1.1230). The scenario can be cancelled by an upward breakaway of the resistance level of 8/8 (1.1718). In this case, the quotes will continue growing and may reach 1/8 (1.1962).

USDCAD_H4
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 too far away from the current price, so falling of the quotes will be signaled by a bounce off8/8 on H4.

USDCAD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.


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