Murrey Math Lines 13.01.2020 (EURUSD, GBPUSD)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD is consolidating. In this case, the price is expected to test 5/8, rebound from it, and then resume trading downwards to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue growing towards the resistance at 7/8.

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

GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, GBPUSD is still moving below 3/8. In this case, the price is expected to continue falling towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument is expected to continue growing to reach the resistance at 5/8.

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 to reach 0/8 from the H4 chart.