18 Apr

Murrey Math Lines 18.04.2022 (EURUSD, GBPUSD)

April 18, 2022

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, EURUSD is trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the price is expected to continue falling to reach the support at -1/8. Still, this scenario may no longer be valid if the price breaks the resistance at 2/8 to the upside. After that, the instrument may reverse and correct up to 4/8.

In the M15 chart, after breaking the downside line of the VoltyChannel indicator, the pair may continue its decline.

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GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, GBPUSD is also trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 2/8, break it, and then continue falling to reach the support at 1/8. However, this scenario may no longer be valid if the price breaks the resistance 3/8 to the upside. After that, the instrument may reverse and grow towards 4/8.

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.

Article By RoboForex.com

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Murrey Math Lines 18.04.2022 (EURUSD, GBPUSD)