Murrey Math Lines 10.08.2018 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is consolidating between the 3/8 and 5/8 levels. In this case, the price is expected to fall towards the support at the downside border of the range, rebound from it, and then resume growing towards the resistance at the upside one.
As we can see in the H1 chart, the price is trading inside the “oversold zone”. Later, the instrument may continue growing towards the 3/8 level.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD may continue falling towards the support at the 0/8 level.
In the H1 chart, the price is trading below the 3/8 level and may continue falling towards the support at the 0/8 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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