Murrey Math Lines 05.09.2022 (EURUSD, GBPUSD)
EURUSD, "Euro vs US Dollar"
On H4, the quotes rest under the 200-days Moving Average, which indicates the prevalence of a downtrend. We expect a test of 2/8, a breakaway of this level, and falling to the support level of 1/8. The scenario can be cancelled by a breakaway of the resistance level of 3/8 upwards. In this case, the pair might return to 5/8.
On M15, the lower line of VoltyChannel is broken away. This confirms the downtrend and a high probability of further price falling.
GBPUSD, "Great Britain Pound vs US Dollar"
On H4, the quotes are in the oversold area. We should expect a bounce off -2/8 and subsequent growth to the resistance level of 0/8. The scenario can be cancelled by a breakaway of -2/8 downwards, which will reshuffle Murrey lines and set new goals of price movements.
On M15, a breakaway of the upper border of VoltyChannel will increase the probability of growth to 0/8 on H4.
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