Murrey Math Lines 10.05.2023 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar”
On H4, the quotes are above the 200-day Moving Average, indicating an uptrend's prevalence. The RSI has broken the resistance line. In this situation, the quotes are expected to break the level of 4/8 (1.0986) and reach the resistance level of 6/8 (1.1108). The scenario can be cancelled by a downward breakout of 3/8 (1.0925), which could lead to a trend reversal and a decline to the support at 2/8 (1.0864).
On M15, the growth of the price can be additionally supported by a breakout of the upper line of the VoltyChannel.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the quotes are above the 200-day Moving Average, which reveals the prevalence of an uptrend. The RSI has rebounded from the support line. In this situation, the quotes are expected to rise above 7/8 (1.2573) and reach the resistance at 8/8 (1.2695). The scenario can be cancelled by a downward breakout of 6/8 (1.2329). In this case, the pair may drop to the support at 5/8 (1.2329).
On M15, a breakout of the upper border of the VoltyChannel will increase the probability of growth to 8/8 (1.2695) on H4.
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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