rfxsignals December 16, 2019 No Comments
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Murrey Math Lines 16.12.2019 (EURUSD, GBPUSD)

16.12.2019

EURUSD, “Euro vs. US Dollar”

In the H4 chart, EURUSD is consolidating. In this case, the price is expected to test 5/8, rebound from it, and then resume trading downwards to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue growing towards the resistance at 6/8.

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 moving downwards.

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 between 5/8 and 6/8. In this case, the price is expected to test 6/8, rebound from it, and then resume falling towards the support at 4/8. However, this scenario may no longer be valid if the price breaks 6/8. After that, the instrument is expected to continue growing to reach the resistance at 7/8.

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

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards to reach 4/8 from the H4 chart.

GBPUSD_M15