Murrey Math Lines 01.11.2019 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is again moving close to 7/8. In this case, the price is expected to rebound from this level and then resume trading downwards to reach the support at 5/8. However, this scenario may no longer be valid if the price breaks 7/8 to the upside. After that, the instrument may continue growing and test the resistance at 8/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, resume moving downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is trading above 5/8. In this case, the price is expected to continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8. After that, the instrument is expected to continue falling towards the support at 3/8.
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 upwards.
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