Murrey Math Lines 16.02.2018 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is trading inside the “overbought zone” above the 8/8 level. The price is expected to test the resistance at the +2/8 level, rebound from it, and then resume falling to return to the 8/8 one.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the pair may break the 5/8 level and continue falling towards the 4/8 one.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is expected to test the resistance at the 2/8 level, rebound from it, and then resume moving downwards to reach the 1/8 one.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
In the H1 chart, the pair may test the resistance at the 8/8 level, rebound from it, and then continue falling towards the support at the 3/8 one.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
As we can see in the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.
Risk Warning: the results of previous trading operations do not guarantee the same results in the future.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s 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.