Murrey Math Lines 30.07.2018 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is trading close to the 3/8 level. In this case, the price may resume trading both upwards and downwards. If the pair breaks the resistance at 1.1664, the instrument may grow towards the 4/8 level. In case of breaking the support at 1.1650, the market may resume falling to reach 1.1535.
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. However, if the price breaks the upside line, the tendency may change. In this case, the instrument is expected to grow towards the resistance at 1.1718.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD failed to break the 3/8 level last Friday. In this case, the price is expected to resume falling towards the support at the 1/8 level.
In the H1 chart, the price may continue falling towards the support at the 5/8 one.
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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