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Murrey Math Lines 09.01.2023 (EURUSD, GBPUSD)

09.01.2023

EURUSD, “Euro vs US Dollar”

On H4, the quotes are above the 200-day Moving Average, which indicates prevalence of an uptrend. The RSI has broken through the resistance level. As a result, we should expect the quotes to break through 7/8 (1.0620) and reach the resistance level of 8/8 (1.0742). The scenario can be cancelled by a downward breakaway of the support level of 6/8 (1.0498), in which case the pair may fall to 4/8 (1.0498).

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 broken away. This indicates prevalence of an uptrend and a high probability of further growth of the price.

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 also above the 200-day Moving Average, which indicates prevalence of an uptrend, and the RSI has broken through the resistance level. In this case, a test of 4/8 (1.2207) is expected, followed by a breakaway and growth to the resistance level of 5/8 (1.2329). The scenario can be cancelled by a downward breakaway of the support level of 3/8 (1.2207), which might lead the price down to 2/8 (1.1962).

GBPUSD_H4
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 broken, increasing the probability of further price growth.

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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