Murrey Math Lines 10.04.2023 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar”
On H4, the quotes have rebounded from 8/8 (1.0986), which indicates the development of a correctional decline in the price. The RSI has broken the support line. In these circumstances, a test of 6/8 (1.0864) is expected, after which the price could break it and fall to the support at 5/8 (1.0803). The scenario can be canceled by rising above the resistance at 7/8 (1.0925). In this case, the pair could return to 8/8 (1.0986).
On M15, the lower line of the VoltyChannel indicator is broken. This increases the probability of further falling.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI is nearing the support line. In this situation, the price is expected to rise above 6/8 (1.2451) and reach the resistance at 7/8 (1.2573). The scenario can be canceled by a downwards breakout of 5/8 (1.2329). In this case, the pair may drop to the support at 4/8 (1.2207).
On M15, an additional signal confirming the price growth will be a breakout of the upper line of VoltyChannel.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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