Murrey Math Lines 21.10.2019 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is trading at 7/8. In this case, the price may rebound from this level and start a significant decline towards the support at 3/8. However, this scenario may no longer be valid if the price breaks 7/8 to the upside. After that, the instrument may continue growing to reach the resistance at 8/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, resume moving downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is consolidating at 5/8. In this case, the price is expected to rebound from this level and then resume falling to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8. After that, the instrument is expected to continue growling towards the resistance at 6/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
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