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Murrey Math Lines 11.04.2022 EURUSD, GBPUSD

11.04.2022EURUSD, Euro vs US DollarAs we can see in 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 test 18, break it, and then continue falling to reach the support at 08. Still, this scenario may no longer be valid if the price breaks the resistance at 28 to the upside. After that, the instrument may reverse and correct up to 38.In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.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 descending tendency. In this case, the price is expected to break the support at 28 and continue falling to reach 18. However, this scenario may no longer be valid if the price breaks the resistance 38 to the upside. After that, the instrument may reverse and grow towards 48.In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.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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