Murrey Math Lines 22.02.2022 (AUDUSD, NZDUSD)

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AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after breaking the 200-day Moving Average, AUDUSD is trading above it, thus indicating a possible ascending tendency. In this case, the price is expected to break 6/8 and then continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks the support at 5/8 to the downside. After that, the instrument may reverse and fall towards 4/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.

NZDUSD, “New Zealand Dollar vs US Dollar”

As we can see in the H4 chart of NZDUSD, the situation is similar. The asset has broken the 200-day Moving Average and is currently trading above it. In this case, the price is expected to break 6/8 and continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may reverse and fall towards the support at 4/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.

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.