Murrey Math Lines 05.10.2021 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, after rebounding from the 200-day Moving Average, AUDUSD is trading below it, thus indicating a descending tendency. In this case, the price is expected to break test 3/8 and then continue moving downwards to reach the support at 2/8. However, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 5/8.
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”
As we can see in the H4 chart, NZDUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 1/8, break it, and continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. In this case, the instrument may continue growing towards the resistance at 3/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
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.