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Murrey Math Lines 24.01.2022 EURUSD, GBPUSD

24.01.2022EURUSD, Euro vs US DollarAs we can see in the H4 chart, after breaking the 200day Moving Average, EURUSD is trading below it, thus indicating a possible descending tendency. In this case, the price is expected to test 38, break it, and then continue falling to reach the support at 18. Still, this scenario may no longer be valid if the price breaks 48 to the upside. After that, the instrument may resume growing and test the resistance at 68.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 trading above the 200day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to rebound from 68 and then resume growing towards the resistance at 88. However, this scenario may no longer be valid if the price breaks 68 to the downside. After that, the instrument may continue falling to reach the support at 48.In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.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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