Murrey Math Lines for 10.08.2021 (AUDUSD, NZDUSD)

Article By RoboForex.com

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotations have reached the oversold area. We expect them to bounce off 0/8, which might end up in a correctional growth to the resistance level of 2/8. The scenario can be cancelled by a breakaway of 0/8 downwards, which will lead to further falling to the support level of -1/8.

On M15, the upper line of VoltyChannel is too far from the current price, hence, the growth of the quotations will be signaled by a bounce off 0/8 on H4.

NZDUSD, “New Zealand Dollar vs US Dollar”

On H4, the quotations have broken through the 200-days MA and are trading below it, which indicates possible development of a downtrend. We expect a test of the support level of 4/8, a breakaway, and falling to 3/8. The scenario can be cancelled by a breakaway of 5/8 upwards. In this case, the pair will start growing again and will possibly reach the resistance level of 6/8.

On M15, the lower line of VoltyChannel is broken away, which makes further falling highly probable.

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.