Murrey Math Lines 10.03.2020 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is consolidating. In this case, the pair is expected to test 3/8, rebound from it, and then start a new uptrend to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may continue falling to reach the support at 1/8.
Unfortunately. It’s impossible to confirm the main scenario in the M15 chart, as the upside line of the VoltyChannel indicator is pretty high above. That’s why, it’s better to wait for the price to break the downside line, which may signal a decline towards 1/8 from the H4 chart.
NZDUSD, “New Zealand Dollar vs US Dollar”
In the case of NZDUSD, the situation is quite similar. As we can see in the H4 chart, the pair is also expected to test 3/8, rebound from it, and resume growing to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8. In this case, the instrument may continue falling towards the support at 1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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