Murrey Math Lines 19.11.2019 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, the pair has rebounded from 7/8. In this case, the pair is expected to resume growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may continue falling to reach the support at 6/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart, NZDUSD is moving inside the “overbought area”. In this case, the pair may resume falling to reach the support at 7/8. However, this scenario may no longer be valid if the price breaks +1/8. After that, the instrument may start a new rising impulse towards the resistance at +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 7/8 from the H4 chart.
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