Murrey Math Lines 02.08.2021 (EURUSD, GBPUSD)
EURUSD, "Euro vs US Dollar"
On H4, the quotations have bounced off 3/8. This means that a test of the support at 2/8 is quite possible, followed by a breakaway and falling to 1/8. The scenario can be cancelled by growing over 3/8. In this case, the quotations might reach the resistance at 4/8.
On M15, another breakaway of of the lower line of the VoltyChannel indicator will make falling of the quotations more probable.
GBPUSD, "Great Britain Pound vs US Dollar"
On H4, the quotations have broken through the 200-days Moving Average and are trading under it, which might precede an uptrend. In these circumstances, we should expect a test of 4/8, a breakaway of this level, and growth to the resistance at 5/8. The scenario can be cancelled by a breakaway of 3/8 downwards. In this case, the quotations might drop to 2/8.
On M15, the upper line of VoltyChannel is too high from the current price, hence, only the breakaway of 4/8 on H4 will signal growth.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.