Murrey Math Lines 08.03.2019 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the pair is trading inside the “oversold zone”. In this case, the price is expected to break the 0/8 level and continue growing to reach the resistance at the 3/8 one.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is consolidating. In this case, the pair may break the 3/8 level and continue falling towards the support at the 2/8 one.
In the H1 chart, the pair is trading below the 3/8 level. In the future, the price may test this level, rebound from it, and then resume falling to reach the support at the 1/8 one.
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 moving downwards.
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