Murrey Math Lines 31.05.2021 (EURUSD, GBPUSD)

Article By RoboForex.com

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.

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