25 Oct

Murrey Math Lines 25.10.2021 (EURUSD, GBPUSD)

October 25, 2021

EURUSD, “Euro vs US Dollar”

In the H4 chart, after breaking 3/8, EURUSD is consolidating. In this case, the price is expected to continue growing to reach the resistance at 4/8. Still, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may fall towards the support at 1/8.

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

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GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, GBPUSD is still moving within the “overbought area”. In this case, the asset is expected to test +1/8, rebound from it, and then resume falling towards the support at 8/8. However, this scenario may no longer be valid if the price breaks +1/8 to the upside. After that, the instrument may continue growing to reach the resistance at +2/8.

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 trading downwards to reach 8/8 from the H4 chart.

Article By RoboForex.com

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Murrey Math Lines 25.10.2021 (EURUSD, GBPUSD)