Murrey Math Lines 11.11.2019 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is consolidating. In this case, the price is expected to continue trading downwards to reach the support at 4/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside and fixes above it. After that, the instrument may continue growing towards the resistance at 6/8.
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 to reach 4/8 from the H4 chart.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is still trading below 5/8. In this case, the price is expected to continue falling to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8. After that, the instrument is expected to continue growing towards the resistance at 7/8.
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 trading downwards.
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