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Murrey Math Lines 01.12.2020 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotations are trading above the 200-days Moving Average, suggesting an uptrend. However, the price is already in the overbought area. This means that a correctional decline is possible. The decline will be preceded by a breakaway of 8/8. The aim of the correction will be 7/8. The scenario will be canceled by a breakaway of 1/8, which might lead to furthe growth of the price to 2/8.

Murrey Math Lines 01.12.2020 AUDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, further growth of the price will be confirmed by a breakaway of the lower border of the VoltyChannel indicator.

Murrey Math Lines 01.12.2020 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”

On H4, these quotations are also trading above the 200-days MA and in the overbought area. We expect the price to test 2/8, bounce off it, and fall to the support on 1/8. The scenario might be canceled by a breakaway of 2/8 – this will make the Murray indicator restructure itself, so that new goals will be set.

Murrey Math Lines 01.12.2020 NZDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the lower line of VoltyChannel is too far away from the current price, so falling will only be signaled by a bounce off 2/8 on H4.

Murrey Math Lines 01.12.2020 NZDUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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