Murrey Math Lines 22.02.2021 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar”
On H4, the quotations are trading above the 200-days Moving Average, which indicates an uptrend. We expect them to go past 3/8 and rise as high as the resistance at 4/8. The scenario might be canceled by a breakaway of 2/8 downwards, which might cause a reversal of the trend and a decline to the support at 1/8.
On M15, the upper line of VoltyChannel is broken away, supporting the idea of further growth to 4/8 on H4.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the quotations are also trading above the 200-days Moving Average, which indicates an uptrend. We currently expect them to go past 3/8 and rise as high as the resistance at 4/8. The scenario might be canceled by a breakaway of 2/8 downwards, in which case the pair might correct to the support at 1/8.
On M15, the upper line of VoltyChannel is broken, which increases the chances for further growth of the price.
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