Murrey Math Lines 14.09.2020 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is moving at 6/8. In this case, the price is expected to break this level and continue falling towards the support at 4/8. However, this scenario may no longer be valid if the price breaks 7/8 to the upside. After that, the instrument may continue growing to reach the closest resistance at 8/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD continues falling; right now, it is breaking 1/8. In this case, the price is expected to continue trading downwards to reach 0/8, rebound from it, and then start a new correction towards the resistance at 2/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may continue growing to reach 3/8.
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 0/8 from the H4 chart.
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