Murrey Math Lines 27.09.2021 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, after leaving the “oversold area”, EURUSD is trading at 0/8. In this case, the price is expected to test the resistance at 1/8, break it, and then continue growing to reach 2/8. Still, this scenario may no longer be valid if the price breaks the support at 0/8 to the downside. After that, the instrument may continue falling and reach -1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, may continue its growth.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is trading within the “oversold area”. In this case, the asset is expected to break 0/8 and then continue growing towards the resistance at 2/8. However, this scenario may no longer be valid if the price breaks -1/8 to the downside. After that, the instrument may continue falling to reach the support at -2/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
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.