Murrey Math Lines 06.09.2021 (EURUSD, GBPUSD)

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 test 4/8, rebound from it, and then resume growing to reach the resistance at 6/8. Still, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue growing and reach the next resistance at 6/8 without any correction towards 4/8.

In the M15 chart, the upside line of the VoltyChannel indicator will appear after the pair falls and reaches 4/8. As a result, the asset may continue its growth.

GBPUSD, “Great Britain Pound vs US Dollar”

in the H4 chart, GBPUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to break 3/8 and then continue growing towards the resistance at 4/8. However, this scenario may no longer be valid if the price breaks 2/8 to the downside. After that, the instrument may fall to reach the support at 3/8.

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 trading upwards.