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Murrey Math Lines for 08.11.2021 EURUSD, GBPUSD

08.11.2021EURUSD, Euro vs US DollarOn H4, the quotations are trading under the 200days Moving Average, which indicates a prevailing downtrend. The quotations might now reach 58, break through it, and fall to the support level of 48. The scenario can be canceled by a breakaway of 68 upwards. In this case, the quotations might rise to the resistance level of 78.On M15, another signal supporting the decline can be a breakaway of the lower border of VoltyChannel.GBPUSD, Great Britain Pound vs US DollarOn H4, the quotations have bounced off 08. This might be an indicator of a correction. Hence, we expect a breakaway of 18 and further growth to the resistance level of 38. The scenario can be canceled by a breakaway of 08 downwards. In this case, the price will go on falling and might reach the support level of 28.On M15, a breakaway of the upper border of VoltyChannel will make growth to 38 on H4 more probable.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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