Murrey Math Lines 06.03.2020 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is moving close to the “overbought area”. In this case, the price may break 8/8 and then continue trading downwards to reach 5/8. However, this scenario may no longer be valid if the price breaks +1/8 to the upside. After that, the instrument may start a new growth towards the resistance at +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, the pair is moving above 4/8. In this case, GBPUSD is expected to break 5/8 and then continue growing towards the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 4/8 and fixes below it. After that, the instrument is expected to continue falling to reach the support at 2/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.