Murrey Math Lines 15.08.2022 (EURUSD, GBPUSD)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

In the H4 chart, after breaking the 200-day Moving Average, EURUSD is trading below, thus indicating a descending tendency. In this case, the price is expected to test 3/8, break it, and then continue falling to reach the support at 2/8. Still, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 6/8.

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.

GBPUSD, “Great Britain Pound vs US Dollar”

On the H4 chart, after breaking the 200-day Moving Average, GBPUSD is also trading below it to indicate a possible descending tendency. In this case, the price is expected to break 3/8 and continue falling to reach the support at 2/8. However, this scenario may no longer be valid if the price breaks the resistance at 4/8 to the upside. After that, the instrument may reverse and grow towards 5/8.

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 its decline to reach 2/8 from the H4 chart.

Article By RoboForex.com

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