Murrey Math Lines 15.03.2021 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 3/8, rebound from it, and then resume falling to reach the support at 2/8. Still, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may continue growing towards the resistance at 5/8.
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 its decline.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to rebound from 4/8 and then resume growing towards the resistance at 6/8. However, this scenario may no longer be valid if the price breaks the support at 4/8 to the downside. After that, the instrument may continue falling and reach 3/8.
In the M15 chart, the price may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
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