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Murrey Math Lines 19.02.2024 (EURUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”

EURUSD quotes have risen above 0/8 (1.0681), escaping the oversold area. The RSI is testing the resistance line. In this situation, the quotes are expected to grow above the 1/8 (1.0803) level, subsequently reaching the resistance at 2/8 (1.0864). The scenario could be cancelled by a downward breakout of the support at 0/8 (1.0742). In this case, the pair could drop to -1/8 (1.0681).

Murrey Math Lines 19.02.2024 Brent
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, a breakout of the upper boundary of the VoltyChannel could increase the probability of the price rise.

Murrey Math Lines 19.02.2024 Brent
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is testing the resistance line. In this situation, a rebound from the 3/8 (1.2634) level is expected, followed by a price decline to the support at 1/8 (1.2512). The scenario could be cancelled by rising above 3/8 (1.2512), which could entail a trend reversal and make the pair grow to the resistance at 4/8 (1.2695).

Murrey Math Lines 19.02.2024 S&P 500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, after a breakout of the 3/8 (1.2634) level, the decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.

Murrey Math Lines 19.02.2024 S&P 500
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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