Murrey Math Lines 21.02.2022 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, after breaking the 200-day Moving Average, EURUSD is trading above it to indicate a possible ascending tendency. In this case, the price is expected to test the resistance at 3/8, break it, and then continue growing to reach 4/8. Still, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument may reverse and fall towards the support at 0/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
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 continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may reverse and fall to reach the support at 5/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth towards 8/8 in the H4 chart.
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