Murrey Math Lines 01.10.2019 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, AUDUSD is consolidating. In this case, the pair is expected to continue falling towards the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8. After that, the instrument may continue growing to reach the resistance at 7/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards to reach 3/8 from the H4 chart.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart, NZDUSD is still moving inside the “oversold area”. In this case, the pair may break -1/8 and then grow to reach the resistance at 1/8. However, this scenario will no longer be valid if the price breaks -2/8. After that, the lines in the chart will be redrawn to indicate new downside targets.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, may move upwards to reach 1/8 from the H4 chart.
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.