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Murrey Math Lines 20.02.2023 (EURUSD, GBPUSD)

20.02.2023

EURUSD, “Euro vs US Dollar”

On H4, the quotes are under the 200-day Moving Average, revealing prevalence of a downtrend. The RSI is testing the resistance line. Next, a test of 3/8 (1.0620) should be expected, followed by a breakaway and a decline to the support level of 2/8 (1.0498). The scenario can be cancelled by rising above the resistance level of 4/8 (1.0742), which might lead to a trend reversal and growth to the resistance level of 5/8 (1.0864).

EURUSD_H4
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 further 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 under the 200-day Moving Average, revealing prevalence of a downtrend. The RSI is testing the support line. Here, a downward breakaway of 2/8 (1.1962) is expected, followed by falling to the support level of 1/8 (1.1840). The scenario can be cancelled by rising above the resistance level of 3/8 (1.2085). In this case, the pair may rise to 4/8 (1.2207).

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

On M15, a breakaway of the lower border of VoltyChannel might become an additional signal confirming the decline.

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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