Murrey Math Lines 15.12.2017 (EUR/USD, GBP/USD)

EUR USD, “Euro vs. US Dollar”

At the H4 chart, the EUR/USD pair is trading close to the 5/8 level. The price is expected to rebound from it and then resume growing towards the resistance at the 8/8 one (1.1962).  

As we can see at the H1 chart, the price may break the 3/8 level and start forming a new ascending impulse with the first target at the 5/8 level. The main upside target is at 1.1962).

At the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards to reach 1.1962.

GBP USD, “Great Britain Pound vs US Dollar”

At the H4 chart, the GBP/USD pair is trading inside the “overbought zone”. If the price breaks the 8/8 level, the instrument will continue falling towards the 5/8 one.

Unlike the H4 chart, here the pair is expected to move upwards. Right now, the price is consolidating. If later the pair breaks the 5/8 level, it may grow towards the resistance at the 8/8 one; if the 3/8 level – continue moving downwards to reach the support at the 0/8 one.

RoboForex Analytical Department