Murrey Math Lines 08.12.2020 (AUDUSD, NZDUSD)

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotations are trading above the 200-days Moving Average, indicating an uptrend. We expect a breakaway of 6/8 and further growth of the quotations to the resistance level of 8/8. The scenario might be canceled by a breakaway of 5/8 top-down, which will drive the price down to the support at 4/8.

On M15, a breakaway of the upper border of the VoltyChannel indicator will additionally support the growth.

NZDUSD, “New Zealand Dollar vs US Dollar”

On H4, the quotations are trading above the 200-days Moving Average and near 6/8. A breakaway of this level might catalyze further growth to the resistance level at 8/8. This scenario might be canceled by a breakaway of the support at 5/8. In this case, the quotations might decline to 4/8.

On M15, a breakaway of the upper border of VoltyChannel will increase the probability of the growth of the price.

Article By RoboForex.com

Attention!
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.