Murrey Math Lines 27.03.2023 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar”
On H4, the quotes are above the 200-day Moving Average, indicating the prevalence of an uptrend. The RSI is testing the resistance line. In such circumstances, we should expect the price to rise above 5/8 (1.0803) and increase to the resistance level of 6/8 (1.0864). The scenario can be canceled by a downward breakaway of the support at 4/8 (1.0742). In this case, the pair may drop further to 3/8 (1.0681).
On M15, a breakaway of the upper line of the VoltyChannel indicator will increase the probability of growth of the price to 6/8 (1.0864) on H4.
GBPUSD, “Great Britain Pound vs US Dollar”
The situation on the GBPUSD chart is similar. On H4, the quotes are above the 200-day Moving Average, revealing the prevalence of an uptrend. The RSI has pushed off the support line. In such circumstances, we should expect the price to rise above 5/8 (1.2329) and reach the resistance of 6/8 (1.2451). The scenario can be canceled by a downward breakaway of 4/8 (1.2207). In this case, the pair might drop to the support at 3/8 (1.2085).
On M15, the growth of the price can be additionally supported by 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.