Murrey Math Lines 20.04.2020 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is still moving at 1/8. In this case, the pair may continue falling towards the target at 0/8. 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 the resistance at 3/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is still trading not far from the downside border of the range at 3/8; right now, it is rebounding from this level. The main scenario implies that the pair may resume growing towards the resistance at 3/8. However, this scenario may no longer be valid if the price breaks the support at 3/8 to the downside. After that, the instrument may continue falling to reach 2/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards to reach 4/8 from the H4 chart.
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