Murrey Math Lines 14.05.2019 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is trading inside the “oversold zone”. In this case, the pair may break the 0/8 level and continue growing towards the resistance at the 3/8 one. However, this scenario may be cancelled if the instrument breaks the -2/8 level. In this case, the lines in the chart will be redrawn to define further downside targets.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.
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, NZDUSD is consolidating and may continue falling towards the 3/8 level. However, this scenario may be cancelled if the instrument breaks the 4/8 level. In this case, the pair may resume growing to reach resistance at the 5/8 one.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.