Murrey Math Lines 11.02.2020 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is moving below 3/8. In this case, the pair is expected to rebound from 2/8 and then resume falling towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 3/8. After that, the instrument may continue growing to reach the resistance at 5/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
In the H4 chart, NZDUSD is moving below 3/8. According to the main scenario, the pair is expected to test 0/8, rebound from it, and then resume growing to reach the resistance at 3/8. However, this scenario may no longer be valid if the price rebounds from 1/8. In this case, the instrument may continue growing to reach the resistance at 3/8 without testing 0/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, continue moving downwards. However, if the price breaks the upside line, it may continue growing towards 3/8 from the H4 chart.
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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