Murrey Math Lines 30.01.2023 (EURUSD, GBPUSD)

30.01.2023

EURUSD, “Euro vs US Dollar”

On H4, the quotes are above the 200-day Moving Average, which indicates prevalence of an uptrend. The RSI has bounced off the support line. As a result, a test of 7/8 (1.0925) should be expected, followed by a breakaway and growth to the resistance level of 8/8 (1.0986). The scenario can be cancelled by a downward breakaway of the support level of 6/8 (1.0864). In this case, the pair may fall to 4/8 (1.0742).

EURUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, an additional signal of growth will be a breakaway of the upper border of VoltyChannel.

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”

On H4, the quotes are also above the 200-day Moving Average, being in an uptrend, and the RSI has bounced off the support line. The quotes are now expected to rise above 6/8 (1.2451) and grow to the resistance level of 7/8 (1.2573). The scenario can be cancelled by a downward breakaway of the support level of 5/8 (1.2329). This may bring the price down to 4/8 (1.2207).

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

On M15, a breakaway of the upper line of VoltyChannel will increase the probability of further price growth.

GBPUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.