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rfxsignals January 11, 2021 No Comments

Murrey Math Lines 11.01.2021 (EURUSD, GBPUSD)

11.01.2021

EURUSD, “Euro vs. US Dollar”

In the H4 chart, EURUSD is consolidating; right now, it is breaking 4/8. In this case, the price is expected to continue falling towards the downside border of the range at 3/8. However, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may continue trading upwards to reach the resistance at 5/8.

EURUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue its decline towards 3/8 from the H4 chart.

EURUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD is moving above the 200-day Moving Average, thus confirming an ascending tendency. At the moment, the asset is forming a correction, which is expected to be over at 5/8. In this case, the price may test this level, rebound from it, and then resume moving upwards to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks the support at 5/8 to the downside. After that, the instrument may fall to reach 4/8.

GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the price is quite far away from the upside line of the VoltyChannel indicator, that’s why it may resume growing only after rebounding from the 5/8 from the H4 chart.

GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future