Murrey Math Lines 03.02.2020 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is consolidating between 3/8 and 5/8. In this case, the price is expected to rebound from 3/8 and then resume trading upwards to reach 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument is expected to continue falling to reach the support at 1/8.
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.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, the pair is consolidating. In this case, GBPUSD is expected to break 4/8 and then continue growing towards the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 and fixes below it. After that, the instrument is expected to continue falling to reach the support at 1/8.
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 to reach 5/8 from the H4 chart.
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