Murrey Math Lines 02.07.2019 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is consolidating. In this case, the pair is expected to test 5/8, rebound from it, and then resume 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 towards the resistance at 7/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards. However, as long as the price is moving below it, the descending tendency will prevail.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart, NZDUSD has rebounded from the strong resistance at 8/8. In this case, the price may resume falling towards the support at 5/8. However, this scenario may no longer be valid if the price breaks 8/8. After that, the instrument may continue growing towards the resistance at +1/8.
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.