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Murrey Math Lines 02.06.2020 (AUDUSD, NZDUSD)

02.06.2020

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD is approaching the “overbought area”. In this case, the pair is expected to test 8/8, rebound from it, and then resume falling to reach the support at 5/8. However, this scenario may be canceled if the price breaks 7/8 to the upside. After that, the instrument may reach the support at 5/8 without testing 8/8.

Murrey Math Lines 02.06.2020  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.

Murrey Math Lines 02.06.2020  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 of NZDUSD, the situation is similar. The price is expected to test 8/8, rebound from this level, and then resume trading downwards to reach the support at 5/8. However, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may continue falling towards the support at 5/8.

Murrey Math Lines 02.06.2020  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 downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 5/8 from the H4 chart.

Murrey Math Lines 02.06.2020  NZDUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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