Murrey Math Lines 14.11.2022 (EURUSD, GBPUSD)

murrey-math-lines-1411.2022-(eurusd,-gbpusd)

EURUSD, “Euro vs US Dollar”

On H4, the quotes are above the 200-day Moving Average, which indicates an uptrend. However, the RSI has already reached the overbought area. As a result, we should expect a test of 4/8 (1.0253), a breakaway of it, and falling to the support level of 3/8 (1.0131). The scenario can be cancelled by a breakaway of the resistance level of 5/8 (1.0376) upwards. This might lead to further growth to 6/8 (1.0498).



On M15, an additional signal confirming the decline might be given by a broken lower line of VoltyChannel.



GBPUSD, “Great Britain Pound vs US Dollar”

On H4, the quotes are in the overbought area. The RSI has bounced off 70. We expect a breakaway of the support level of 8/8 (1.1718) downwards and falling to 7/8 (1.1474). The scenario can be cancelled by an upward breakaway of the resistance level of +1/8 (1.1962), in which case the pair may rise to +2/8 (1.2270).



On M15, a breakaway of the lower line of VoltyChannel will increase the probability of price falling to 7/8 (1.1474) on H4.



Source: Roboforex

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