Murrey Math Lines 28.06.2021 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar”
In the H4 chart, EURUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 3/8 and continue falling to reach the support at 2/8. Still, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may correct towards the resistance at 5/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, continue its decline.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart of GBPUSD, the pair also is trading below the 200-day Moving Average to indicate a descending tendency. In this case, the asset is expected to break 3/8 and then continue trading within the downtrend towards the support at 1/8. However, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may move upwards to reach the resistance at 5/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, continue falling.
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