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Murrey Math Lines 06.08.2019 (AUDUSD, NZDUSD)

06.08.2019

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, AUDUSD is moving inside the “oversold area”. In this case, the pair may break 0/8 and then continue growing towards the resistance at 2/8. As long as the price is trading below this level, the descending tendency may continue to reach the support at -2/8.

AUDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, complete the current downtrend.

AUDUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

NZDUSD, “New Zealand Dollar vs US Dollar”

In the H4 chart, NZDUSD is consolidating between 3/8 and 5/8. In this case, the pair is expected to rebound from 3/8 and resume growing to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8. After that, the instrument may continue falling towards the support at 1/8.

NZDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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 moving upwards.

NZDUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.


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