Murrey Math Lines 07.02.2022 (EURUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, after breaking the 200-day Moving Average, EURUSD is trading above it, thus indicating a possible ascending tendency. In this case, the price is expected to break 4/8 and then continue growing to reach the resistance at 5/8. Still, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may reverse and fall towards the support at 1/8.



In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.



GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, after breaking the 200-day Moving Average, GBPUSD is trading above it, thus indicating an ascending tendency. In this case, the price is expected to test 6/8, break it, and then continue growing towards the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may resume falling to reach the support at 4/8.



In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.



Source: Roboforex

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