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Murrey Math Lines 18.10.2021 EURUSD, GBPUSD

18.10.2021EURUSD, Euro vs US DollarIn the H4 chart, EURUSD is trading below the 200day Moving Average, thus indicating a 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 correct and reach 38.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.GBPUSD, Great Britain Pound vs US DollarAs we can see in the H4 chart, GBPUSD is moving within the overbought area. In this case, the asset is expected to test 88, break it, and then continue falling towards the support at 78. 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.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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