rfxsignals May 22, 2020 No Comments
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Murrey Math Lines 22.05.2020 (EURUSD, GBPUSD)

22.05.2020

EURUSD, “Euro vs. US Dollar”

In the H4 chart, EURUSD is no longer moving inside the “overbought area”. In this case, the pair is expected to fall to break 5/8 and then continue trading downwards to reach the support at 4/8. However, this scenario may no longer be valid if the price breaks the resistance at 8/8 to the upside. After that, the instrument may continue growing to reach +1/8.

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 trading 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”

In the H4 chart, GBPUSD is consolidating. The main scenario implies that the pair may break 4/8 to the downside and then continue falling towards the closest support at 3/8. However, this scenario may no longer be valid if the price breaks the resistance at 5/8. After that, the instrument may continue growing to reach 6/8.

GBPUSD_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 to reach 3/8 from the H4 chart.

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