Murrey Math Lines 23.08.2019 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is moving above 5/8. In this case, the price is expected to rest this level, rebound from it, and then resume growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may start a new decline towards the support at 3/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards to reach 8/8 from the H4 chart.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is still consolidating. In this case, the pair is expected to grow towards the closest resistance at 5/8 or even break it to reach the next target at 6/8. However, this scenario may no longer be valid if the price breaks 4/8 and fixes below it. After that, the instrument may continue trading downwards to reach the support at 3/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue the ascending tendency.
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