Murrey Math Lines 27.10.2020 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is moving below the 200-day Moving Average, thus indicating a descending tendency. In this case, the pair is expected to rebound from 5/8 and then resume falling to reach the support at 3/8. However, this scenario may be canceled if the price breaks 5/8 to the upside. After that, the instrument may continue growing towards 6/8.
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”
In the H4 chart, NZDUSD is moving above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 6/8 and continue trading upwards to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks the support at 5/8 to the downside. After that, the instrument may continue falling towards 4/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.
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