Murrey Math Lines 30.05.2022 (EURUSD, GBPUSD)

30.05.2022

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, EURUSD is within the “overbought area”. In this case, the price is expected to break 8/8 and then continue falling to reach the support at 6/8. Still, this scenario may no longer be valid if the price breaks the resistance at +1/8 to the upside. After that, the instrument may reverse and grow towards the next resistance at +2/8.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, after breaking the 200-day Moving Average, GBPUSD is also trading above it, thus indicating an ascending tendency. In this case, the price is expected to test 4/8, break it, and then continue growing to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks the support 3/8 to the downside. After that, the instrument may fall towards 2/8.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, continue its growth.

GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.

The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.