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Murrey Math Lines 16.03.2021 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD is trading below 3/8. In this case, the price is expected to break this level and then continue moving upwards to reach the resistance at 5/8. However, this scenario may be canceled if the price breaks 2/8 to the downside. After that, the instrument may fall towards the support at 1/8.

Murrey Math Lines 16.03.2021 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 16.03.2021 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”

As we can see in the H4 chart, NZDUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to rebound from 2/8 and then resume falling towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. In this case, the instrument may reverse and grow to reach the resistance at 3/8.

Murrey Math Lines 16.03.2021 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 its decline.

Murrey Math Lines 16.03.2021 NZDUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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