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Murrey Math Lines 19.07.2022 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, AUDUSD is trading inside the “oversold area”. In this case, the price is expected to break 0/8 and continue growing to reach the resistance at 1/8. However, this scenario may no longer be valid if the price rebounds from 0/8 to the downside. After that, the instrument may reverse and resume falling to return to the support at -1/8.

Murrey Math Lines 19.07.2022 AUDUSDH4
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 moving upwards.

Murrey Math Lines 19.07.2022 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 possible descending tendency. In this case, the price is expected to rebound from 1/8 and resume moving downwards to reach the support at -1/8. However, this scenario may no longer be valid if the price breaks the resistance at 2/8 to the upside. After that, the instrument may reverse and grow towards 4/8.

Murrey Math Lines 19.07.2022 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 19.07.2022 NZDUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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