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Murrey Math Lines 09.03.2021 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, AUDUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 1/8 and then continue moving downwards to reach the closest support at 0/8. However, this scenario may be canceled if the price breaks 2/8 to the upside. After that, the instrument may correct towards the resistance at 3/8.

Murrey Math Lines 09.03.2021 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 09.03.2021 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, NZDUSD is heading towards the “oversold area”. In this case, the price is expected to test the support at 0/8, rebound from it, and then resume growing towards the resistance at 2/8. However, this scenario may no longer be valid if the price breaks 0/8 to the downside. In this case, the instrument may fall to reach the support at -1/8.

Murrey Math Lines 09.03.2021 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 rebounding from 0/8 from the H4 chart.

Murrey Math Lines 09.03.2021 NZDUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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