Murrey Array Analysis 23.02.2021 (AUDUSD, NZDUSD)

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotations are trading in the overbought area. Currently, the price is bouncing off +2/8. This means that the quotations are likely to fall to the nearest support at +1/8. A breakaway of +1/8 can provoke further decline to the next support at 8/8. The scenario might be canceled by a breakaway of +2/8 upwards. In this case, Murrey lines will be rearranged, so that new goals for growth will be set.

On M15, the falling of the price will be additionally supported by a breakaway of the lower line of VoltyChannel.

NZDUSD, “New Zealand Dollar vs US Dollar”

On H4, the quotations have reached the overbought area. Currently, we expect them to bounce off 8/8 and fall to the support at 6/8. This can be interpreted as a correction in the uptrend. Such a scenario can be canceled by a breakaway of 8/8 upwards, which will lead the quotations further upwards to the resistance at +1/8.

On M15, a breakaway of the lower border of VoltyChannel will increase the chances for a decline.

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.