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Murrey Math Lines 02.03.2021 (AUDUSD, NZDUSD)

02.03.2021

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, after breaking 3/8 to the upside, AUDUSD is consolidating. In this case, the price is expected to continue moving upwards to reach the upside border at 5/8. However, this scenario may be canceled if the price breaks 3/8 to the downside. After that, the instrument may fall towards the support at 1/8.

Murrey Math Lines 02.03.2021 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 upside line of the VoltyChannel indicator and, as a result, continue trading upwards.

Murrey Math Lines 02.03.2021 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, after rebounding from the 200-day Moving Average, NZDUSD is trading above it. In this case, the price is expected to break 3/8 and then continue growing towards the resistance at 4/8. However, this scenario may no longer be valid if the price breaks 2/8 to the downside. In this case, the instrument may reverse and fall to reach the support at 1/8.

Murrey Math Lines 02.03.2021 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 upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may continue the ascending tendency only after breaking 3/8 from the H4 chart.

Murrey Math Lines 02.03.2021 NZDUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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