Murrey Math Lines 03.05.2021 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar”
In the H4 chart, EURUSD is trading close to 5/8. In this case, the price is expected to break this level and then continue falling to reach the support at 4/8. Still, this scenario may no longer be valid if the price breaks 6/8 to the upside. After that, the instrument may grow to reach the resistance at 7/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue its decline.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, after breaking the 200-day Moving Average, GBPUSD is trading below it, thus indicating a descending tendency. In this case, the asset is expected to break 2/8 and then continue falling towards the support at 1/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue growing to reach the resistance at 4/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue the descending tendency.
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