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Murrey Math Lines 13.03.2023 (EURUSD, GBPUSD)

13.03.2023

EURUSD, “Euro vs US Dollar”

On H4, the EURUSD has broken through the 200-day Moving Average and is now above it, indicating that an uptrend is possible. The RSI has reached an overbought area. In the current situation we should expect a pullback from the 0/8 level (1.0742) and further decline to the support at -1/8 (1.0620). If the scenario is cancelled, the price will overcome the level of 0/8 (1.0741). In this case the growth of the price will continue and it might reach the resistance level of 1/8 (1.0864).

EURUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the bottom line of the VoltyChannel indicator is too far away from the current price, so the signal for fall of the price will be the price rebound from the 0/8 level (1.0742) on the 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 situation is similar. The GBPUSD has broken through the 200-day Moving Average and is above it, while the RSI has reached the overbought area. A break-down of the 3/8 level (1.2085) is expected, which will bring the price down to the 2/8 support (1.1962). The overcoming of the 4/8 level (1.2207) will cancel this scenario. In this case, the price may reach resistance 5/8 (1.2329).

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

On M15, the VoltyChannel bottom line is too far away from the current price, therefore a break-down of the 3/8 level (1.2085) in the H4 period will be a signal for quotes to fall.

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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