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Murrey Math Lines 07.03.2022 EURUSD, GBPUSD

07.03.2022EURUSD, Euro vs US DollarIn the H4 chart, EURUSD is trading below the 200day Moving Average to indicate a possible descending tendency. In this case, the price is expected to 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 reverse and correct 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, continue trading downwards.GBPUSD, Great Britain Pound vs US DollarIn the H4 chart, GBPUSD has reached the oversold area; right now, it is moving close to 08. In this case, the price is expected to break 18 and then grow to reach the resistance at 28. However, this scenario may no longer be valid if the price breaks the support at 08 to the downside. After that, the instrument may continue falling towards 28.As we can see in the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, thats why the pair may continue trading upwards only after breaking 18 in 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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