Murrey Math Lines 17.11.2020 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD has reached the “overbought area”. In this case, the pair is expected to rebound from 8/8 and resume falling to reach the support at 6/8. However, this scenario may be canceled if the price breaks 8/8 to the upside. After that, the instrument may continue growing towards the resistance at +1/8.
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 moving inside the “overbought area”. In this case, the price is expected to break +1/8 and then correct downwards within the ascending tendency to reach the support at 7/8. However, this scenario may no longer be valid if the price continues growing towards +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 7/8 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.