Murrey Math Lines 07.05.2019 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, yesterday AUDUSD rebounded from the support at the 0/8 level, which means that investors are ready to buy the Aussie. If later the pair breaks the 3/8 level, it may continue growing to reach the resistance at the 5/8 one. However, this scenario may be cancelled if the instrument rebounds from the 3/8 level. In this case, it may resume falling towards the support at the 1/8 one.
In the H1 chart, the scenario is quite similar. Right now, the pair is trading above the 5/8 level and may continue moving upwards to reach the 8/8 one.
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 trading upwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
In the H4 chart, NZDUSD is consolidating close to the 5/8 level and may continue growing. If the pair breaks this level, the price may reach the resistance at the 8/8 one. However, this scenario may be cancelled if the instrument breaks the 4/8 level. In this case, the pair may continue consolidating towards the support at the 3/8 one.
As we can see in the H1 chart, the pair has rebounded from the 0/8 level to confirm a possible growth. In this case, the instrument may break the 2/8 level and continue moving upwards to reach the upside border of the range at the 5/8 one.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
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.