Murrey Math Lines 11.08.2020 (AUDUSD, NZDUSD)

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, after rebounding from 5/8, AUDUSD is expected to resume growing to reach the resistance at 7/8. However, this scenario may be canceled if the price breaks 5/8 to the downside. After that, the instrument may continue falling towards the support at 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 trading upwards.

NZDUSD, “New Zealand Dollar vs US Dollar”

In the H4 chart, NZDUSD is consolidating. In this case, the pair is expected to break 5/8 and then continue trading upwards to reach the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may continue falling towards the support at 3/8.

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 to reach 6/8 from the H4 chart.

Article By RoboForex.com

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.