Murrey Math Lines for 09.06.2021 (EURUSD, GBPUSD)
EURUSD, "Euro vs US Dollar"
On H4, the quotations are trading under the 200-days Moving Average, indicating a downtrend. We expect a breakaway of 1/8 and falling to the support level of 0/8. The scenario can be cancelled if the price break through 2/8 upwards. In this case, the quotations may correct to the resistance level of 3/8.
On M15, the lower line of VoltyChannel is broken. Thus makes further falling of the price more probable.
GBPUSD, "Great Britain pound vs US Dollar"
On H4, the quotations are trading inside a consolidation range between 3/8 and 5/8. The price currently rests at the lower border of the range. We expect a bounce off 3/8 and growth to the resistance level of 5/8. The scenario can be cancelled by a breakaway of 3/8 downwards, in which case the price can drop to the support level of 2/8.
On M15, another signal supporting the growth of the price should be a breakaway of the upper line of VoltyChannel.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.