Murrey Math Lines 29.10.2018 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD has rebounded from the 3/8 level and may continue falling towards the support at the 0/8 one.
In the H1 chart, the scenario may be a bit different. The pair may grow to rebound from the 3/8 level and then resume falling to reach the support at the 0/8 one.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is trading below the 3/8 level. In this case, the price may test this level, rebound from it, and then resume continue falling towards the support at the 0/8 one.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.
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 moving downwards.
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