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Murrey Math Lines 18.04.2022 EURUSD, GBPUSD

18.04.2022EURUSD, 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 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 reverse and correct up to 48.In the M15 chart, after breaking the downside line of the VoltyChannel indicator, the pair may continue its decline.GBPUSD, Great Britain Pound vs US DollarIn 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 test 28, break it, and then continue falling to reach the support at 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.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.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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