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Murrey Math Lines 21.03.2022 EURUSD, GBPUSD

21.03.2022EURUSD, 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 test 28, break it, and then continue falling to reach the support at 18. Still, this scenario may no longer be valid if the price breaks the resistance at 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.GBPUSD, Great Britain Pound vs US DollarAs we can see in the H4 chart, GBPUSD is trading below the 200day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 38, break it, and then fall to reach the support at 28. However, this scenario may no longer be valid if the price breaks the resistance at 48 to the upside. After that, the instrument may correct up to 58.In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling.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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