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Murrey Math Lines 02.08.2021 EURUSD, GBPUSD

02.08.2021EURUSD, Euro vs US DollarOn H4, the quotations have bounced off 38. This means that a test of the support at 28 is quite possible, followed by a breakaway and falling to 18. The scenario can be cancelled by growing over 38. In this case, the quotations might reach the resistance at 48.On M15, another breakaway of of the lower line of the VoltyChannel indicator will make falling of the quotations more probable.GBPUSD, Great Britain Pound vs US DollarOn H4, the quotations have broken through the 200days Moving Average and are trading under it, which might precede an uptrend. In these circumstances, we should expect a test of 48, a breakaway of this level, and growth to the resistance at 58. The scenario can be cancelled by a breakaway of 38 downwards. In this case, the quotations might drop to 28.On M15, the upper line of VoltyChannel is too high from the current price, hence, only the breakaway of 48 on H4 will signal growth.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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