Murrey Math Lines 10.06.2019 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is trading above the 5/8 level. In this case, the pair is expected to test the 6/8 level, rebound from it, and then start a new growth to reach the resistance at the 8/8 one. However, this scenario may no longer be valid if the price breaks the 6/8 level. In this case, the instrument may resume moving downwards to reach the support at the 4/8 level.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading downwards. However, if the price breaks the downside one, the instrument may start a new correction.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD has broken the 0/8 level and is no longer trading inside the “oversold area”. In this case, the pair is expected to grow towards the resistance at the 2/8 level. However, this scenario may be cancelled if the price breaks the 0/8 level. In this case, the instrument may resume falling to reach the support at the -1/8 one.
In the H1 chart, the pair may break the 5/8 level and continue trading upwards to reach the resistance at the 8/8 one.
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