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Murrey Math Lines 28.11.2022 (EURUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”

On H4, the quotes are above the 200-day Moving Average, which signifies an uptrend. The RSI is testing the support line. Currently, we should expect the quotes to rise over 5/8 (1.0376) and grow to the resistance level of 6/8 (1.0498). The scenario can be cancelled by a downward breakaway of the support level of 4/8 (1.0253). In this case, the pair may drop to 3/8 (1.0131).

Murrey Math Lines 28.11.2022 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, so growth can only be pointed on by a breakaway of 5/8 (1.0376) on H4.

Murrey Math Lines 28.11.2022 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 remain in the overbought area. The RSI has escaped the overbought area and continues declining. We should expect a downward breakaway of 1/8 (1.1962) and subsequent falling to the support level of 8/8 (1.1718). The scenario can be cancelled by rising over the resistance at 2/8 (1.2207), which will entail reshuffling of the Murrey grid, so that new goals will be set.

Murrey Math Lines 28.11.2022 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, which increases the probability of price falling to 8/8 (1.1718) on H4.

Murrey Math Lines 28.11.2022 GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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