31 May

Murrey Math Lines 31.05.2021 (EURUSD, GBPUSD)

May 31, 2021

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, EURUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 8/8 and continue growing to reach the resistance at +1/8. Still, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may continue falling towards 5/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.

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GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD is trading the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to test +1/8, break it, and then continue growing towards the resistance at +2/8. However, this scenario may no longer be valid if the price breaks 8/8 to the downside. After that, the instrument may continue trading downwards to reach the support at 7/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue the ascending tendency.

Article By RoboForex.com

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Murrey Math Lines 31.05.2021 (EURUSD, GBPUSD)