Murrey Math Lines 07.12.2020 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar”
On H4, the quotations are trading in the overbought area. A test of +2/8 is expected, followed by a bounce off this level and a decline to the support at +1/8. The scenario will no longer be valid if +2/8 is broken away, which will make Murrey math lines rearrange so that new goals for growth will be set.
On M15, falling can be confirmed by a breakaway of the lower border of VoltyChannel.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the quotations have broken through 8/8. This means the quotations might fall to the support at 6/8. The decline will be interpreted as a correction of the uptrend. The scenario can be canceled by a breakaway of 8/8 upwards. In this case, the price will keep growing to +1/8.
On M15, a breakaway of the lower border of VoltyChannel will increase the chances for a decline.
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