Murrey Math Lines 03.08.2021 (AUDUSD, NZDUSD)

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotations have bounced off the support line at 0/8. This means, the pair is likely to test 1/8, break through it, and grow to the resistance level of 2/8. The scenario can be canceled by a breakaway of 0/8 downwards, which will lead to further falling to -1/8.

On M15, the upper border of VoltyChannel is broken away, which makes further growth of the quotations more probable.

NZDUSD, “New Zealand Dollar vs US Dollar”

On H4, the quotations are approaching 3/8. A breakaway here will signal the beginning of an uptrend and further growth to the resistance level of 4/8. The scenario can be canceled by a breakaway of 2/8 downwards. In this case, the downtrend will continue, and the quotations might drop to the support level of 1/8.

On M15, the upper border of VoltyChannel is broken, which confirms growth to 4/8 on H4.

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.