Murrey Math Lines 26.04.2021 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar”
In the H4 chart, EURUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and then continue growing to reach the resistance at 8/8. Still, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may correct downwards and reach the support at 4/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue its growth.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, after rebounding from the support at 3/8, GBPUSD is consolidating between 3/8 and 5/8. In this case, the asset is expected to break the resistance at 4/8 and then continue growing towards the upside border of the range at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may continue falling to reach the support at 2/8.
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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