Murrey Math Lines 27.03.2023 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar”
On H4, the quotes are above the 200-day Moving Average, indicating the prevalence of an uptrend. The RSI is testing the resistance line. In such circumstances, we should expect the price to rise above 5/8 (1.0803) and increase to the resistance level of 6/8 (1.0864). The scenario can be canceled by a downward breakaway of the support at 4/8 (1.0742). In this case, the pair may drop further to 3/8 (1.0681).
On M15, a breakaway of the upper line of the VoltyChannel indicator will increase the probability of growth of the price to 6/8 (1.0864) on H4.
GBPUSD, “Great Britain Pound vs US Dollar”
The situation on the GBPUSD chart is similar. On H4, the quotes are above the 200-day Moving Average, revealing the prevalence of an uptrend. The RSI has pushed off the support line. In such circumstances, we should expect the price to rise above 5/8 (1.2329) and reach the resistance of 6/8 (1.2451). The scenario can be canceled by a downward breakaway of 4/8 (1.2207). In this case, the pair might drop to the support at 3/8 (1.2085).
On M15, the growth of the price can be additionally supported by a breakaway of the upper line of VoltyChannel.
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