Murrey Math Lines 21.03.2022 (EURUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”

In the H4 chart, EURUSD is trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the price is expected to test 2/8, break it, and then continue falling to reach the support at 1/8. Still, this scenario may no longer be valid if the price breaks the resistance at 3/8 to the upside. After that, the instrument may reverse and grow towards 4/8.

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.

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 3/8, break it, and then fall to reach the support at 2/8. However, this scenario may no longer be valid if the price breaks the resistance at 4/8 to the upside. After that, the instrument may correct up to 5/8.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling.