Murrey Math Lines 12.11.2019 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, the pair is trading inside the “overbought area”. In this case, the pair is expected to break 8/8 and then fall towards the support at 7/8. However, this scenario may no longer be valid if the price rebounds from 8/8 to the upside. After that, the instrument may resume growing to reach the resistance at +1/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, continue trading downwards to reach 7/8 from the H4 chart.
NZDUSD, “New Zealand Dollar vs US Dollar”
In the H4 chart, NZDUSD is moving below 8/8. In this case, the pair may continue falling to reach the support at 7/8. However, this scenario may no longer be valid if the price breaks 8/8. After that, the instrument may start a new rising impulse towards the resistance at +1/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.
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