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Murrey Math Lines 21.11.2022 (EURUSD, GBPUSD)

21.11.2022

EURUSD, “Euro vs US Dollar”

On H4, the quotes are above the 200-day Moving Average, which means the uptrend is prevailing. The RSI is nearing the support line. A test of 4/8 (1.0253) should be expected, followed by a bounce off it and growth to the resistance level of 6/8 (1.0498). The scenario can be cancelled by a breakaway of the support level at 4/8 (1.0253) downwards. In this case, the pair will go on declining, probably to 2/8 (1.0009).

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

On M15, The upper line of VoltyChannel is too far away from the current price, which means growth can be signaled only by a bounce off 4/8 on H4.

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 overbought area. The RSI has bounced off the descending trendline. A downward breakaway of the support level of 8/8 (1.1718) is expected, followed by falling to 7/8 (1.1474). The scenario can be cancelled by rising over the resistance level of 1/8 (1.1962). In this case, the pair may rise to 2/8 (1.2207).

GBPUSD_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 broken away. This increases the probability of further price falling.

GBPUSD_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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