Murrey Math Lines 04.12.2018 (AUDUSD, NZDUSD)
AUDUSD, “Australian Dollar vs US Dollar”
As we can see in the H4 chart, AUDUSD is trading inside the “overbought zone”. In this case, the price is expected to rebound from the +1/8 level and resume falling towards the support at the 7/8 one.
In the H1 chart, the scenario is a bit different. The pair may grow towards the resistance at the 8/8 level only after breaking the 6/8 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 moving upwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
As we can see in the H4 chart, NZDUSD is no longer trading inside the “overbought zone”. In this case, the price may rebound from the resistance at the +1/8 level and resume falling towards the 8/8 one.
In the H1 chart, the price is trading close to the strong resistance at the 8/8 level. In the future, the instrument may rebound from it and resume trading downwards to reach the support at the 5/8 one.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling.
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.