Murrey Math Lines 01.05.2018 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is expected to test the support at the 3/8 level, rebound from it, and then resume growing towards the resistance at the 5/8 one.
As we can see in the H1 chart, the price is trading inside the “oversold zone” below the 0/8 level. If later the price breaks this level, the instrument may grow to reach the resistance at the 2/8 one.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
In the H4 chart, NZDUSD is consolidating. The price is expected to test the support at the 3/8 level, rebound from it, and then resume growing towards the resistance at the 5/8 one.
In the H1 chart, the pair is trading inside the “oversold zone” below the 0/8 level. If the price breaks the ‑1/8 level, it may resume growing to reach the resistance at the 2/8 one.
As we can see in the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards.
RoboForex Analytical Department
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.