Murrey Math Lines 05.04.2021 (EURUSD, GBPUSD)
EURUSD, “Euro vs US dollar”
On H4, the quotations are trading under the 200-days Moving Average, which indicates a downtrend. The price is also bouncing off 1/8, which increases the chances for further falling. As a result, we expect a test of the support at 0/8, a breakaway of this level, and a decline to -1/8. The scenario can be canceled by rising above 1/8. In this case, the quotations can rise to 3/8.
On M15, another signal confirming the falling of the quotations will be a breakaway of the lower VoltyChannel line.
GBPUSD, “Great Britain pound vs US dollar”
On H4, the quotations have bounced off the resistance at 3/8. This means it might test 2/8, bounce off it, and drop to the support at 1/8. The scenario can be canceled by a breakaway of the resistance at 3/8 upwards. In this case, the quotations might rise to 5/8.
НOn M15, a breakaway of the lower VoltyChannel line will increase the probability of further falling.
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