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Murrey Math Lines 07.10.2019 (EURUSD, GBPUSD)

7 october 2019 - Fx4News

EURUSD, “Euro vs. US Dollar”

In the H4 chart, EURUSD is still consolidating. In this case, the price is expected to grow towards the resistance at 5/8. If later the pair breaks this level, it may continue moving upwards to reach the next resistance at 8/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may continue falling towards the support at 1/8.

EURUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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 moving upwards.

EURUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD is consolidating at 5/8. In this case, the pair is expected to resume growing to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8. After that, the instrument may continue falling towards the support at 3/8.

GBPUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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

GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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