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Murrey Math Lines 05.11.2019 (AUDUSD, NZDUSD)

05.11.2019

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, the pair is trading inside the “overbought area”. In this case, the pair is expected to fall towards the support at 7/8. However, this scenario may no longer be valid if the price breaks 1/8 to the upside. After that, the instrument may continue growing to reach the resistance at 2/8.

AUDUSD_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 downside line of the VoltyChannel indicator and, as a result, continue trading downwards to reach 7/8 from the H4 chart.

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 also moving inside the “overbought area”. In this case, the pair may continue falling to reach the support at 7/8. However, this scenario may no longer be valid if the price breaks 1/8. After that, the instrument may continue growing towards the resistance at 2/8.

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 downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.

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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