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Murrey Math Lines 08.11.2022 (AUDUSD, NZDUSD)

AUDUSD, “Australian Dollar vs US Dollar”

On H4, the quotes have broken through the 200-day Moving Average and are now above it, which hints on possible development of an uptrend. However, the RSI is nearing the overbought area. As a result, we should expect a test of 4/8 (0.6347), a breakaway of it, and a decline to the support level of 3/8 (0.6225). The scenario can be cancelled by rising over the resistance level of 5/8 (0.6469). In this case, the pair might rise to 6/8 (0.6591).

Murrey Math Lines 08.11.2022  AUDUSDH4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, a breakaway of the lower border of VoltyChannel will increase the probability of price falling to 3/8 (0.6225) on H4.

Murrey Math Lines 08.11.2022 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”

On H4, the quotes are in the overbought area. The RSI have bounced off the resistance line. Currently, we should expect a downwards breakaway of the support level of 8/8 (0.5859) and subsequent falling to 7/8 (0.5737). The scenario can be cancelled by rising over the resistance level of 1/8 (0.5981). This might provoke growth to 2/8 (0.6103).

Murrey Math Lines 08.11.2022 NZDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, an additional signal confirming the decline of the pair will be a breakaway of the lower border of VoltyChannel.

Murrey Math Lines 08.11.2022 NZDUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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