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Murrey Math Lines 17.01.2022 EURUSD, GBPUSD

17.01.2022EURUSD, Euro vs US DollarIn the H4 chart, after rebounding from the resistance at 88, EURUSD is trading downwards. In this case, the price is expected to test 78, rebound from it, and then resume falling to reach the support at 58. Still, this scenario may no longer be valid if the price breaks 78 to the upside. After that, the instrument may continue growing and test the resistance at 88.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.GBPUSD, Great Britain Pound vs US DollarIn the H4 chart, GBPUSD is trading within the overbought area. In this case, the price is expected to break 88 and then continue falling towards the support at 68. 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 its decline towards 68 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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