Murrey Math Lines 11.05.2018 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is expected to break the 2/8 level and then test the resistance at the 3/8 one.
In the H1 chart, the pair is trading below the consolidation range. In this case, the price may break the 2/8 level and then continue falling towards the 0/8 one.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, the pair is trading inside the “oversold zone” below the 0/8 level. If the price breaks the ‑1/8 level, the instrument may resume growing towards the 0/8 one.
As we can see in the H1 chart, the pair has rebounded from the 5/8 level and may continue moving upwards to reach the resistance at the 8/8 one.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards to reach 1.3671.
RoboMarkets Analytical Department
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.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.