Murrey Math Lines 09.02.2021 (AUDUSD, NZDUSD)

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AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, AUDUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and then continue growing to reach the resistance at 8/8. However, this scenario may be canceled if the price breaks 6/8 to the downside. After that, the instrument may reverse and fall towards the support at 5/8.

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 also trading above the 200-day Moving Average, thus indicating an ascending tendency. downwards. In this case, the price is expected to break 7/8 and then continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. In this case, the instrument may continue falling to reach the support at 5/8.

As we can see in the M15 chart, the price has broken the upside line of the VoltyChannel indicator and, as a result, may continue growing towards 8/8 from the H4 chart.

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.