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Murrey Math Lines 12.12.2023 (AUDUSD, NZDUSD)

AUDUSD, "Australian Dollar vs US Dollar"

AUDUSD quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI has broken the trendline. In this situation, the price is expected to rise above 4/8 (0.6591) and later reach the resistance at 6/8 (0.6713). The scenario could be cancelled by a downward breakout of 3/8 (0.6530), which might lead to a trend reversal and might make the pair drop to the support at 2/8 (0.6469).

Murrey Math Lines 12.12.2023 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the upper boundary of the VoltyChannel is broken, increasing the probability of a price rise.

Murrey Math Lines 12.12.2023 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

NZDUSD, "New Zealand Dollar vs US Dollar"

NZDUSD quotes have formed a similar picture on H4: the quotes are above the 200-day Moving Average on the chart, and the RSI has broken the resistance line. In this situation, the price is expected to rise above 4/8 (0.6164) and later reach the resistance at 7/8 (0.6286). The scenario could be cancelled by a downward breakout of 4/8 (0.6103). In this case, the pair might drop to the support at 3/8 (0.6042).

Murrey Math Lines 12.12.2023 NZDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the upper VoltyChannel line is broken, which indicates the prevalence of an uptrend and increases the probability of a further growth.

Murrey Math Lines 12.12.2023 NZDUSD
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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