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Murrey Math Lines 01.11.2021 EURUSD, GBPUSD

01.11.2021EURUSD, Euro vs US DollarIn the H4 chart, EURUSD is trading below the 200day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 18 and then continue falling to reach the support at 08. Still, this scenario may no longer be valid if the price breaks 28 to the upside. After that, the instrument may grow towards the resistance at 38.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 its decline.GBPUSD, Great Britain Pound vs US DollarIn the H4 chart, GBPUSD is still moving within the overbought area. In this case, the asset is expected to break 88 and then continue falling towards the support at 78. However, this scenario may no longer be valid if the price breaks 18 to the upside. After that, the instrument may continue growing to reach the resistance at 28.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 78 from the H4 chart.Back to listAttention!Forecasts presented in this section only reflect the authors private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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