Murrey Math Lines for 09.06.2021 (EURUSD, GBPUSD)
EURUSD, "Euro vs US Dollar"
On H4, the quotations are trading under the 200-days Moving Average, indicating a downtrend. We expect a breakaway of 1/8 and falling to the support level of 0/8. The scenario can be cancelled if the price break through 2/8 upwards. In this case, the quotations may correct to the resistance level of 3/8.
On M15, the lower line of VoltyChannel is broken. Thus makes further falling of the price more probable.
GBPUSD, "Great Britain pound vs US Dollar"
On H4, the quotations are trading inside a consolidation range between 3/8 and 5/8. The price currently rests at the lower border of the range. We expect a bounce off 3/8 and growth to the resistance level of 5/8. The scenario can be cancelled by a breakaway of 3/8 downwards, in which case the price can drop to the support level of 2/8.
On M15, another signal supporting the growth of the price should be a breakaway of the upper line of VoltyChannel.
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