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Analysis

Murrey Math Lines 06.06.2022 (EURUSD, GBPUSD)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, after breaking 8/8, EURUSD is no longer moving within the “overbought area”. In this case, the price is expected to test 7/8, break it, and then continue falling to r…

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, after breaking 8/8, EURUSD is no longer moving within the “overbought area”. In this case, the price is expected to test 7/8, break it, and then continue falling to reach the support at 6/8. Still, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may reverse and grow towards the resistance at +1/8.

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Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.

EURUSD_M15

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

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In the H4 chart, GBPUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 2/8 and then continue falling to reach the support at 1/8. However, this scenario may no longer be valid if the price breaks the resistance 3/8 to the upside. After that, the instrument may grow towards 4/8.

GBPUSD_H4

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, continue its decline.

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GBPUSD_M15

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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