Morey’s Math Lines 18.07.2022 (EURUSD, GBPUSD) :: InvestMacro


Article by RoboForex.com

EURUSD, “Euro vs. US Dollar”

As we can see on the 4 hour chart, EURUSD is trading below the 200-day moving average, which indicates a bearish trend. In this case, the price is expected to test 3/8rebounds from it, then resumes the fall to reach the support level at 1/8. However, this scenario may not be valid in the event of a price breakout 3/8 to the top. Then, the tool may reverse and correct towards the resistance at 5/8.


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

In the chart M15, the pair may break the descending line of the VoltyChannel indicator and, as a result, continue to trade lower.

EURUSD_M15
Risk Warning: The result of previous trading operations does not guarantee the same results in the future



GBPUSD, “Great British Pound to US Dollar”

On the 4-hour chart, GBPUSD is also trading below the 200-day moving average to indicate a possible downtrend. In this case, the price is expected to test 2/8rebounds from it, then resumes the fall to reach the support level at 0/8. However, this scenario may not be valid if the price breaks the resistance 2/8 to the top. After that, the tool may reverse and grow towards the trend 3/8.

GBPUSD_H4
Risk Warning: The result of previous trading operations does not guarantee the same results in the future

As we can see in the M15 chart, the downside of the VoltyChannel indicator is very far from the price, which is why the pair may resume trading downwards only after bouncing from 2/8 In the H4 chart.

pound

Article by RoboForex.com

attention!
Forecasts presented in this section only reflect the author’s own opinion and should not be considered guidelines for trading. RoboForex LP does not assume any responsibility for the trading results based on the trading recommendations described in these analytical reviews.


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