Murrey Math Lines 30.08.2019 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is moving below 3/8. In this case, the price is expected to continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may start a new growth 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, may continue moving downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is still consolidating. In this case, the pair is expected to resume falling to reach the support at 2/8. However, this scenario may no longer be valid if the price breaks 4/8 and fixes above it. After that, the instrument may continue trading 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, may continue the descending tendency.
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