Murrey Math Lines 25.10.2021 (EURUSD, GBPUSD)

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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.

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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