Murrey Math Lines 09.01.2023 (EURUSD, GBPUSD)

murrey-math-lines-0901.2023-(eurusd,-gbpusd)

EURUSD, “Euro vs US Dollar”

On H4, the quotes are above the 200-day Moving Average, which indicates prevalence of an uptrend. The RSI has broken through the resistance level. As a result, we should expect the quotes to break through 7/8 (1.0620) and reach the resistance level of 8/8 (1.0742). The scenario can be cancelled by a downward breakaway of the support level of 6/8 (1.0498), in which case the pair may fall to 4/8 (1.0498).

On M15, the upper line of VoltyChannel is broken away. This indicates prevalence of an uptrend and a high probability of further growth of the price.

GBPUSD, “Great Britain Pound vs US Dollar”

On H4, the quotes are also above the 200-day Moving Average, which indicates prevalence of an uptrend, and the RSI has broken through the resistance level. In this case, a test of 4/8 (1.2207) is expected, followed by a breakaway and growth to the resistance level of 5/8 (1.2329). The scenario can be cancelled by a downward breakaway of the support level of 3/8 (1.2207), which might lead the price down to 2/8 (1.1962).

On M15, the upper line of VoltyChannel is broken, increasing the probability of further price growth.

Source: Roboforex

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