Murrey Math Lines 09.09.2019 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is trading at 1/8. In this case, the price is expected to break this level and then continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may continue growing towards the resistance at 5/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, move downwards to reach the support at 0/8 from the H4 chart.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is trading above 5/8. In this case, the pair is expected to rebound from this level and then resume growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 5/8 and fixes below it. After that, the instrument may continue trading downwards to reach the support at 3/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, grow to reach 8/8 from the H4 chart.
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