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Murrey Math Lines 31.08.2021 (AUDUSD, NZDUSD)

31.08.2021

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, AUDUSD is consolidating between 3/8 and 5/8. In this case, the price is expected to test 4/8, break it, and then continue moving upwards to reach the resistance at 5/8. However, this scenario may be cancelled if the price breaks 3/8 to the downside. After that, the instrument may reverse and fall towards the support at 2/8.

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 upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

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 breaking the 200-day Moving Average, NZDUSD is also trading above it to indicate a possible ascending tendency. In this case, the price is expected to test the resistance at 7/8, break it, and then continue growing to reach 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. In this case, the instrument may reverse and fall towards the support at 5/8.

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 upside line of the VoltyChannel indicator and, as a result, may continue its growth.

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

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.


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