Murrey Math Lines 15.10.2019 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
In the H4 chart, the pair started skyrocketing earlier, but then stopped close to the resistance at 7/8. In this case, the pair is expected to resume falling towards the support at 3/8. However, this scenario may no longer be valid if the price breaks 7/8. After that, the instrument may continue growing to reach the resistance at 8/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
In the H4 chart, NZDUSD has rebounded from the strong resistance at 8/8. In this case, the pair may break 7/8 and then continue falling to reach the support at 5/8. However, this scenario will no longer be valid if the price breaks 8/8. After that, the instrument may continue growing towards the resistance at +2/8.
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 moving downwards.
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.