Murrey Math Lines 12.12.2022 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar”
On H4, the quotes are under the 200-day Moving Average, indicating the prevalence of an uptrend. The RSI is testing the support level. Hence, the pair is expected to rise above 7/8 (1.0620) to the resistance level of 8/8 (1.0742). Thrle scenario can be cancelled by a downward breakaway of the support level of 6/8 (1.0498). In this case, the pair may drop to 4/8 (1.0253).
On M15, an additional signal confirming the growth will be a breakaway of the upper border of VoltyChannel.
GBPUSD, “Great Britain Pound vs US Dollar”
The situation on the GBPUSD chart is similar. The quotes are above the 200-day Moving Average, and the RSI is testing the support line. The quotes are expected to rise above 7/8 (1.2451) and then - to the resistance level of 8/8 (1.2695). The scenario can be cancelled by a downward breakaway of 6/8 (1.2207), which may entail falling to 5/8 (1.1962).
On M15, a breakaway of the upper border of VoltyChannel will increase the probability of further price growth.
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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