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Murrey Math Lines 20.10.2020 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, AUDUSD is moving below the 200-day Moving Average, thus indicating a descending tendency. In this case, the pair is expected to break 3/8 and continue falling to reach the support at 2/8. However, this scenario may be canceled if the price breaks 4/8 to the upside. After that, the instrument may continue growing towards the resistance at 5/8.

Murrey Math Lines 20.10.2020 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, may continue trading downwards.

Murrey Math Lines 20.10.2020 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”

In the H4 chart, NZDUSD is also moving below the 200-day Moving Average In this case, the price is expected to continue trading downwards to reach the closest support at 3/8. However, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may continue growing towards the resistance at 5/8.

Murrey Math Lines 20.10.2020 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.

Murrey Math Lines 20.10.2020 NZDUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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