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Murrey Math Lines 16.01.2023 (EURUSD, GBPUSD)

16.01.2023

EURUSD, “Euro vs US Dollar”

On H4, the quotes are in the overbought area. A divergence has appeared on the RSI. As a result, a bounce off 1/8 (1.0864) is to happen, followed by falling to the support level of 7/8 (1.0620). The scenario can be cancelled by rising over the resistance level of 1/8 (1.0864). In this case, growth of the pair will continue, and the quotes may reach 2/8 (1.0986).

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 line of VoltyChannel will increase the probability of falling.

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 above the 200-day Moving Average, which indicates prevalence of an uptrend. However, a divergence has appeared on the RSI. In the end, a test of 4/8 (1.2207) is expected, followed by falling to the support level of 3/8 (1.2085). The scenario can be cancelled by a breakaway of the resistance level of 5/8 (1.2329) upwards. In this case, the pair may reach 6/8 (1.2451).

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

On M15, falling of the pair can be additionally supported by a breakaway of the lower line of VoltyChannel.

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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