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Murrey Math Lines 29.11.2021 EURUSD, GBPUSD

29.11.2021EURUSD, Euro vs US DollarIn the H4 chart, after breaking 08 to the upside and leaving the oversold area, EURUSD is expected to break 18 and then continue growing to reach the resistance at 38. Since the current trend is descending, this upward movement should be considered as a correction. Still, this scenario may no longer be valid if the price breaks 08 to the downside. After that, the instrument may fall towards the support at 18.As we can see In the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue its growth.GBPUSD, Great Britain Pound vs US DollarIn the H4 chart, GBPUSD is trading below the 200day Moving Average, thus indicating a descending tendency. In this case, the price is expected to retest 58, break it, and then continue falling towards the support at 48. However, this scenario may no longer be valid if the price breaks 68 to the upside. After that, the instrument may correct to reach the resistance at 78.As we can see in the M15 chart, the downside line of the VoltyChannel indicator is pretty far away from the price, thats why the pair may resume trading downwards only after breaking 58 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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