Murrey Math Lines 17.04.2023 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar”
On H4, the quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI is testing the support line. In this situation, the price could rise above 2/8 (1.0986) and reach the resistance at 3/8 (1.1108). The scenario can be canceled by a rebound from 2/8 (1.0925). In this case, the pair may fall to the support at 1/8 (1.0864).
On M15, price growth could be additionally supported by a breakout of the upper border of the VoltyChannel indicator.
GBPUSD, “Great Britain Pound vs US Dollar”
The situation on the GBPUSD chart is similar. On H4, the quotes are above the 200-day Moving Average, revealing the prevalence of an uptrend, while the RSI is testing the support line. In this situation, the price could rise above 6/8 (1.2451) and reach the resistance at 7/8 (1.2573). The scenario can be canceled by a downward breakout of 5/8 (1.2329). In this case, the pair may drop to the support at 4/8 (1.2207).
On M15, a breakout of the upper border of VoltyChannel could increase the probability of further price growth to 7/8 (1.3573) on H4.
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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