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Murrey Math Lines 04.10.2021 EURUSD, GBPUSD

04.10.2021EURUSD, Euro vs US DollarAs we can see in the H4 chart, EURUSD is trading below the 200day Moving Average, thus indicating a descending tendency. In this case, the price is expected to continue falling to reach the support at 18. Still, this scenario may no longer be valid if the price breaks the resistance at 28 to the upside. After that, the instrument may correct and reach 38.In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.GBPUSD, Great Britain Pound vs US DollarAs we can see in the H4 chart, GBPUSD is also trading below the 200day Moving Average, thus indicating a possible descending tendency. In this case, the asset is expected to rebound from 78 and then resume falling towards the support at 68. However, this scenario may no longer be valid if the price breaks 78 to the upside. After that, the instrument may reverse and grow to reach the resistance at 88.In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.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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