Murrey Math Lines 22.10.2019 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, the pair is trading inside the “overbought area”. In this case, the pair is expected to break +1/8 and then resume falling towards the support at 6/8. However, this scenario may no longer be valid if the price breaks +2/8 to the upside. After that, the line at the chart will be redrawn, thus indicating new upside targets.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart, NZDUSD is also moving inside the “overbought area”. In this case, the pair may break +1/8 and then continue falling to reach the support at 8/8. However, this scenario may no longer be valid if the price breaks +2/8. After that, the line at the chart will be redrawn, thus indicating new upside targets.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, may resume moving downwards.
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.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.