Murrey Math Lines 14.10.2019 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is trading above 5/8. In this case, the price is expected to test 5/8, rebound from it, and then resume growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may continue falling towards the support at 3/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is expected to test the support at 7/8, rebound from it, and then resume growing to reach the resistance at +1/8. However, this scenario may no longer be valid if the price breaks 7/8. After that, the instrument is expected to continue falling towards the support at 6/8, but may later resume trading upwards.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
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