Murrey Math Lines 22.02.2021 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar”
On H4, the quotations are trading above the 200-days Moving Average, which indicates an uptrend. We expect them to go past 3/8 and rise as high as the resistance at 4/8. The scenario might be canceled by a breakaway of 2/8 downwards, which might cause a reversal of the trend and a decline to the support at 1/8.
On M15, the upper line of VoltyChannel is broken away, supporting the idea of further growth to 4/8 on H4.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the quotations are also trading above the 200-days Moving Average, which indicates an uptrend. We currently expect them to go past 3/8 and rise as high as the resistance at 4/8. The scenario might be canceled by a breakaway of 2/8 downwards, in which case the pair might correct to the support at 1/8.
On M15, the upper line of VoltyChannel is broken, which increases the chances for further growth of the price.
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.