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Murrey Math Lines 17.04.2023 (EURUSD, GBPUSD)

17.04.2023

EURUSD, “Euro vs US Dollar”

On H4, the quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI is testing the support line. In this situation, the price could rise above 2/8 (1.0986) and reach the resistance at 3/8 (1.1108). The scenario can be canceled by a rebound from 2/8 (1.0925). In this case, the pair may fall to the support at 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, price growth could be additionally supported by a breakout of the upper border of the VoltyChannel indicator.

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”

The situation on the GBPUSD chart is similar. On H4, the quotes are above the 200-day Moving Average, revealing the prevalence of an uptrend, while the RSI is testing the support line. In this situation, the price could rise above 6/8 (1.2451) and reach the resistance at 7/8 (1.2573). The scenario can be canceled by a downward breakout of 5/8 (1.2329). In this case, the pair may drop to the support at 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 breakout of the upper border of VoltyChannel could increase the probability of further price growth to 7/8 (1.3573) on H4.

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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