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Murrey Math Lines 04.02.2020 (AUDUSD, NZDUSD)

04.02.2020

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD is moving below 3/8. In this case, the pair is expected to rebound from 2/8 and then resume falling towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8. After that, the instrument may continue growing to reach the resistance at 3/8. If later the price rebounds from this level, the market may resume falling towards the support at 0/8.

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

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”

As we can see in the H4 chart, NZDUSD is moving inside the “oversold zone”. According to the main scenario, the pair is expected to break 0/8 and then continue growing to reach the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 0/8 downwards. After that, the instrument may continue falling to reach the support at -2/8.

NZDUSD_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, 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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